Bitcoin Defies Selling Pressure as Traders Look Beyond Strategy Moves and Coldcard Losses

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Bitcoin moved back toward $64,000 on Tuesday as traders looked past Strategy’s latest BTC sale and continued concerns surrounding the Coldcard wallet exploit. The cryptocurrency gained nearly 2% over the past 24 hours and was slightly higher on the week after recovering from Monday’s drop below $63,000.

BTC bottomed near $62,250 before a steady recovery pushed prices above $64,100 during overnight trading.

Among major cryptocurrencies, most posted weekly gains, with ether remaining the only large-cap token in negative territory. ETH traded around $1,865, edging higher on the day but still down about 1% over seven days. XRP increased almost 1% to $1.08 and was up 2% for the week, while BNB climbed 1.5% to nearly $591, leading the largest tokens with a weekly gain of almost 5%.

Solana added more than 1% to trade near $74, while Tron and Dogecoin each advanced about 1% to $0.33 and $0.07, respectively. Hyperliquid’s HYPE token recovered over 4% to $54 following last week’s losses, although it remained down roughly 3% on a weekly basis.

The market recovery came despite the Coldcard exploit continuing to unfold. A fourth wave of wallet sweeps linked to vulnerable firmware reportedly removed around 449 BTC from 709 addresses on Monday. Galaxy Research has not confirmed whether the same attacker carried out all of the transactions.

At the same time, bitcoin treasury company Strategy revealed it sold 1,638 BTC for approximately $105 million between July 27 and August 2, according to an SEC filing. The company’s average selling price was $63,957 per bitcoin, significantly below its $75,419 average acquisition cost.

Strategy said the proceeds would be allocated toward preferred stock dividend payments and STRC share repurchases rather than new bitcoin purchases. The company now holds 842,138 BTC and has gone more than five weeks without adding to its reserves.

Michael Saylor said the sale strengthened Strategy’s dollar reserves, raising them to $4 billion and extending the company’s reserve coverage period by 57 days.

Meanwhile, global markets delivered mixed signals. The MSCI Asia Pacific index declined 0.7% for a second consecutive session, while South Korea’s Kospi fell 1.1% after briefly gaining earlier in the day. Semiconductor stocks also weakened, with a regional chip index down 1%.

U.S. stock futures were slightly higher, with Nasdaq 100 futures gaining 0.4%. Palantir shares surged 14% in after-hours trading following an improved forecast, while Amazon shares declined 1.6% after founder Jeff Bezos disclosed a stock sale.

The key level for bitcoin traders remains $63,000. BTC has moved above and below that threshold twice in three days, and another failure to hold the level could signal weaker demand around the $62,500 support zone.