Coldcard Hack Day 5: BTC, ETH Slide as Custody Fears Mount

Woofun AI reports that Bitcoin (BTC) and ether (ETH) face downward pressure as the Coldcard hardware wallet exploit enters its fifth day, with Marex analysts noting that the incident undermines the foundational self-custody narrative by spooking holders into returning assets to exchanges.

The financial impact of the $114 million theft has triggered a reassessment of cold storage security, causing BTC to drop 1.5% to $62,595 and ETH to fall 2% to $1,842, while the CoinDesk DeFi Select Index declined 2.5%, reflecting broader market anxiety over direct custody risks.

Structurally, attention has shifted to Bitcoin’s 200-week simple moving average near $63,000, as Michael Saylor-led Strategy (MSTR) signals potential resumption of purchases after a five-week pause, funded by preferred stock issued at a 12% rate, according to Woofun AI data.

Geopolitical tensions remain unresolved as President Donald Trump announced new talks with Iran, a claim swiftly rejected by Foreign Ministry spokesperson Esmaeil Baghaei, who confirmed no plans for diplomatic delegations, adding uncertainty to the macro backdrop.