Bitcoin is holding near $64,000 after a week that delivered a $116 million Coldcard wallet hack, fresh Strategy selling and a stalling Clarity Act.
Key Takeaways
Coldcard theft losses topped $116 million this week, with a fourth wave moving 388.9 BTC in one evening.Developer James O’Beirne’s tripwire wallet with no added entropy was swept by attackers within an hour.Capriole pegs bitcoin’s production cost at $54,000, a floor bulls cite with BTC chopping near $64,000.Coinkite has halted shipments and destroyed its remaining inventory manufactured with the vulnerable firmware, telling customers: “Money that took years to save, gone. Trust that took years to build, broken.” The company has urged users on affected devices to move their funds to fresh wallets immediately, warning that a firmware update alone does not remove the risk. A fourth wave of drains moved 388.9 BTC (roughly $29 million) in a single Sunday evening.
Historically, prices have dipped below production cost in every cycle bottom, meaning the current $64,000 tape still trades at a premium, but the floor beneath it is well-defined.
Lastly, exchange inflows spiked as frightened Coldcard users moved coins, while Strategy has $5 billion in authorized sales remaining. If that wasn’t enough, a failed Clarity vote this week is looking to deliver one more headline blow before the August recess (potentially toppling bitcoin’s value once again).
