Bitcoin Rebounds to $64K as Coldcard Hack and Strategy Sales Fade

Woofun AI reports that Bitcoin (BTC) climbed 1.6% over the last 24 hours, reaching $64,160—the highest level since July 31—before retreating, as market pressure from the Coldcard incident and Strategy (MSTR) liquidations subsided.

The initial selloff was triggered by a firmware exploit targeting the Coldcard wallet, which drained roughly 1,816 BTC, valued at approximately $114 million, from more than 5,200 addresses since July 30.

Concurrently, Strategy (MSTR) executed its third sale of the year, offloading 1,638 bitcoin between July 27 and Aug. 2 at an average price of $63,957, significantly below the company's $75,419 average cost. Per Woofun AI, these proceeds were utilized to fund dividends and buybacks on its preferred stock, STRC.

Market sentiment remains fragile, with the Crypto Fear & Greed Index dropping to "extreme fear" at 25. While spot bitcoin ETFs recorded $61.5 million in outflows last week, they attracted $170 million yesterday; conversely, Ether ETFs saw $27.4 million in inflows last week but lost $11.4 million on Monday. Macro volatility intensified as the yen slumped almost 4% after U.S. Treasury Secretary Scott Bessent confirmed coordinated intervention with Japan, reviving carry-trade comparisons to August 2024, though Bitcoin's 52-week correlation with the pair at minus 0.90 suggests dollar strength remains the primary risk.