Bitcoin Onchain Activity Hits 2026 High Amid Coldcard Wallet Attack

Bitcoin’s seven day active supply climbed to its highest level of 2026, with about 890,000 BTC moved in the past week, according to research firm K33. The surge comes as the Coldcard hardware wallet attack continues to expand, with victims still reporting new theft patterns.

Attack Losses Keep Growing

Galaxy Research now estimates at least 15 different attackers have exploited the Coldcard vulnerability, pushing total losses to roughly $130 million, or about 2,000 BTC. K33 separately estimates around 1,596 BTC stolen from close to 7,300 addresses.

Analyst Says Panic Is Visible Onchain

K33 Head of Research Vetle Lunde said the spike happened despite quiet price action, with Bitcoin posting its narrowest 30-day trading range since 2023. He said the activity was “very likely driven by the Coldcard attacks” and may also be pushing owners of Ledger and Trezor wallets toward centralized custodians or multisignature setups.

History Shows Link To Market Turning Points

Lunde noted similar spikes in active supply have historically lined up with local market tops and bottoms across the 2022 bear market and the 2024, 2025 and 2026 cycles. “Panic is visible onchain,” he wrote, pointing to selloffs in February and June as recent examples.