Roughly 210,000 bitcoin have moved out of long-term holder (LTH) wallets in the past week, the largest weekly decline since December 2024, according to Glassnode on-chain data reported by [CoinDesk](coindesk.com).
Glassnode classifies long-term holders as entities whose coins have remained dormant for roughly 155 days, or just over five months — a cohort often viewed as the market's "smart money" because it tends to hold through short-term volatility.
The move comes in the wake of the Coldcard incident: the breach stemmed from weak randomness in affected hardware-wallet firmware, which allowed attackers to reconstruct some users' recovery phrases and drain their bitcoin. Thousands of addresses were affected, with estimated losses reaching as much as $114 million.
