Bitcoin slips under $63,000 despite Iran deal hopes as Coldcard losses rattle market
Bitcoin, ether and other majors slipped on Monday even as macro conditions improved on fresh talk of a US-Iran deal, with the market still jolted by a Coldcard wallet exploit that has shown no sign of containment.
$BTC dropped from a Sunday high of $63,600 to $62,800 on Monday, down 1% on the day and 4% over the past week. Ether fell over 1% to $1,858 and has not managed $1,900 since last week, down 5% on the seven-day view. XRP slipped almost 1% to $1.07, solana half a percent to nearly $73, and dogecoin the same to just under 7 cents.
BNB was the only major in the green, flat on the day and up 1.6% on the week. Hyperliquid’s HYPE fell 1% to $52.52 and is down 12.8% over seven days, the worst of the top ten.
The macro tape was pointing the other way all morning. Brent crude futures for October dropped as much as 7.3% to $81.55 a barrel after President Donald Trump said he had called off a strike on Iran and would open fresh talks Monday, with Saudi Arabia among the allies pushing for a deal to reopen the Strait of Hormuz.
Treasuries rallied across the curve as the oil move eased inflation worries, taking the 10-year yield down four basis points to 4.69% after it hit its highest since January 2025 last week. Nasdaq 100 futures and European share futures both gained 0.8%. Gold added 0.3% to about $4,060 an ounce.
Falling oil, falling yields and rising stock futures usually give crypto a lift. This time bitcoin ignored all three — because the pressure on it is coming from a broken hardware wallet rather than from the macro.
As CoinDesk reported Sunday, a third wave of sweeps against Coldcard-generated addresses were found over the weekend, bringing observed losses to 1,367 bitcoin, nearly $89 million, across 4,585 addresses.
The average haul per address has fallen with each wave, which suggests the attacker has worked through the large balances, and later moved to emptying wallets worth a few thousand dollars.
Wave one took 1,083 bitcoin from 1,196 addresses on July 30, but wave three took 208 $BTC from 1,912 wallets, which is more wallets for a fifth of the money.
Meanwhile, ether funds took small inflows on Friday while bitcoin funds saw an outflow, an unusual split for a market where bitcoin normally sets the direction and ether follows.
