Bitcoin rises toward $64,000 as Coldcard exploit, Strategy sales recede. ADA advances
Bitcoin prices are showing resilience near $64,000 despite recent security exploits in Coldcard wallets and significant sell-offs by Strategy (MSTR). Market sentiment remains in 'extreme fear' as investors navigate broader macroeconomic volatility and shifting interest in crypto-related ETFs.
Why it matters
Understanding the interplay between institutional asset management, security vulnerabilities, and macroeconomic indicators is critical for assessing the stability of the digital asset market.
Roughly 1,816 BTC, about $114 million, was removed from more than 5,200 addresses since July 30, according to researchers tracking the cold wallet hack, which exploited a flaw in the Coldcard wallet’s firmware.
In addition, Strategy (MSTR) sold 1,638 bitcoin between July 27 and Aug. 2 at an average price of $63,957, its third sale of the year and below the company's $75,419 average cost. Strategy uses the proceeds to fund dividends and buybacks on its preferred stock, STRC.
The Crypto Fear & Greed Index has dropped to “extreme fear” at 25. Spot bitcoin ETFs saw $61.5 million outflows last week, while $170 million came in yesterday. Ether ETFs saw $27.4 million inflows last week, with another $11.4 million leaving on Monday.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in