2013 wallet moves $31M as Coldcard drains top $100M.

Bitcoin trades near $63,400 amid net inflows to exchanges that expand sell-side supply while MVRV at 1.20 leaves little cushion above average cost basis. Dormant wallets from 2013 activating and Coldcard exploits draining over $100 million together point to supply hitting the market from both old holders and compromised custody rather than fresh demand stepping in. Geopolitical oil pressure has eased without pulling capital into Bitcoin, and macro yields plus the dollar show no acute stress that would normally force rotation. The market appears to treat these on-chain events as noise rather than a distribution signal, yet sustained inflows would confirm the opposite. How much of the current exchange balance reflects genuine selling pressure versus temporary parking ahead of moves?