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Why $89 Million Coldcard Drain Is Bullish for Bitcoin ETFs, Bloomberg Analyst Explains
FG
FOMOGRAM Editorial Desk
Aug 2, 2026
EXECUTIVE SUMMARY
Bloomberg’s Eric Balchunas shares his take on a $89 million drain from Coldcard hardware wallets and how it provides the ultimate bull case for regulated spot Bitcoin ETFs.
Bloomberg’s Eric Balchunas shares his take on a $89 million drain from Coldcard hardware wallets and how it provides the ultimate bull case for regulated spot Bitcoin ETFs.
FOMOGRAM SENTINEL GRAVITY TELEMETRY
The $89 million drain from Coldcard wallets is interpreted as a bullish signal for Bitcoin ETFs, potentially driving institutional interest.
BTC OVERALL MARKET INDEX: 84 / 100 (BULLISH)
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