Bitcoin (BTC) price faces uncertainty after a long-dormant wallet moved 500 BTC during the Coldcard security crisis. The transfer, worth about $31.3 million, came as older coins became active.
The timing drew attention because attackers drained funds from wallets linked to a Coldcard flaw. Traders are watching weak August seasonality and yen intervention pressure.
The wallet known as 18TExP moved all 500 BTC after remaining inactive since 2013. Whale Alert flagged the transfer, while Lookonchain said the owner may have moved funds for security reasons.
The coins were worth $500,000 when they last moved. Their value shows Bitcoin’s gains over 12 years. However, the transfer did not confirm a sale.
Since July 30, attackers have targeted Coldcard-generated wallets through a flaw dating to March 2021. Galaxy researchers estimated losses near $130 million in Bitcoin.
CryptoQuant data showed more old coins moving. About 935 BTC held for at least 10 years moved on August 3. Another 6,388 BTC held for five to seven years moved on July 31.
Bitcoin price has often struggled in August. Coinglass data shows the month closed lower in nine of the last 13 completed years.
August recorded four straight negative finishes from 2022 through 2025. The average return stands near 1.15%, while the median return is negative 6.99%.
Bitcoin posted mixed results in 2026. It fell in January, February, and June before gaining 7.36% in July. August was up 1.54% when reported.
Seasonal data cannot predict future moves. Still, traders use past monthly returns to measure risk during weak confidence.
Traders are tracking the Japanese yen. A chart linked major Bitcoin declines this year with sharp moves in the USD/JPY pair.
The chart claimed Japan’s efforts to support the yen happened near two Bitcoin drops. It showed declines of 35.43% and 26.28%, though it did not prove direct cause.
WARNING TO $BTC HOLDERS: 🚨 Every major Bitcoin crash this year lined up with Japan defending the yen.
This time, the US and Japan intervened TOGETHER for the first time in nearly 30 years.
If this continues, you already know what's coming… pic.twitter.com/7FyWJUDbCC
— Crypto Rover (@cryptorover) August 3, 2026
Currency intervention can reduce liquidity and pressure risk assets. Bitcoin may react when investors cut leveraged positions or seek safer assets.
However, similar timing does not confirm that yen intervention caused each Bitcoin decline.
The Coldcard crisis has raised questions about wallet safety. Some holders may move old coins into new addresses or different storage systems.
Exchange inflows increased after the reported breach. Higher inflows can signal selling, but they may also reflect account transfers or custody changes.
BTC price now faces pressure from security concerns, weak August history, and currency risks. Traders will watch old-wallet activity, exchange flows, and USD/JPY moves.
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