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📊 Bitcoin Active Addresses Surge After Coldcard Incident – Bullish Signal or Just Short-Term Noise? According to the chart, Active Addresses jumped from around 645K to nearly 1 million, one of the biggest spikes in recent months. The move followed the Coldcard security incident, which led many users to transfer BTC to new wallets. While rising active addresses are often viewed as bullish, this spike is likely driven by wallet migrations rather than fresh buying demand. Existing holders moved their coins for security reasons, temporarily boosting on-chain activity. That said, the event still highlights Bitcoin's strong network participation and the growing importance of self-custody. More users interacting with the blockchain is generally a positive sign for long-term adoption. The key question is whether this activity remains elevated after the migration ends. If active addresses stay high, it could signal genuine user growth. If they quickly fall back to normal levels, the spike was probably a one-time event. 📊From a market perspective: 🔸Active Addresses ≈ 1M 🔸BTC price remains around $63K 🔸Network usage has risen sharply, while price has yet to fully react. Active Addresses alone are not enough to confirm a bullish trend. Watch this metric together with ETF inflows, exchange outflows, and transaction volume to determine whether real demand is returning. #Bitcoin #BTC #OnChain #CryptoQuant #Crypto #Blockchain #MarketStructure #CryptoAnalytics