Overview
- Strategy reported an about $8.2 billion unrealized Q2 loss and has paused bitcoin purchases this week while saying it may selectively sell holdings, removing one of the market’s most visible steady buyers.
- Coldcard hardware wallets were found to generate weaker‑than‑intended recovery seeds, prompting Coinkite to publish corrected firmware while warning users to generate new seeds and move funds because updates do not fix already vulnerable wallets.
- On‑chain analysts estimate the Coldcard exploit activity may involve roughly 1,815 BTC across over 5,000 suspect addresses, though company and law‑enforcement confirmation of every affected wallet remains pending.
- Institutional flows turned uneven with U.S. spot ETFs posting about $61.5 million in net outflows last week, and on‑chain data show roughly 32,000 BTC moved to exchanges at a loss in a single day while some whales opened highly leveraged long positions totaling about 1,364 BTC.
- Combined with higher Treasury yields and historically weak August seasonality, these developments leave Bitcoin rangebound between about $62,000 and $64,000 and vulnerable to a break toward $60,000, so investors should watch ETF flows, U.S. macro prints, and security fixes for wallet users.