Bitcoin edges lower below $63k as Coldcard hack overshadows U.S.-Iran hopes

Bitcoin slipped on Monday, extending weekend losses as cryptocurrency markets grappled with a high-profile hack and weak June quarter earnings from major companies in the sector.

Bitcoin fell 0.8% to $62,650.4 by 09:32 ET (13:32 GMT). 

Optimism over more U.S.-Iran negotiations provided little support, even as oil prices slid up to 5%. U.S. President Donald Trump said more negotiations with Iran were set to occur later on Monday, after Washington canceled a major planned weekend attack on the country. 

Coldcard hack results in nearly $90 mln Bitcoin being stolen 

Canadian crypto wallet firm Coinkite Inc late last week said its brand of “cold” wallets– Coldcard– had been compromised, and that hackers were siphoning user funds.

Galaxy Research data showed nearly $90 million of Bitcoin had been stolen by Monday, from over 4,500 wallets.

The development was especially unnerving for crypto markets, given that cold wallets are usually considered to be the safest place a trader can store their crypto. 

Cold wallets are usually cut off from public networks. But a flaw in the Coldcard devices made them vulnerable to remote access. 

Strategy sells $105 mln worth of Bitcoin

Strategy sold 1,638 bitcoin for roughly $104.7 million last week, according to an SEC filing Monday.

The Bitcoin treasury company led by Michael Saylor said the sales took place between July 27 and Aug. 2 at an average price of $63,957 per bitcoin.

The transaction brings Strategy’s total holdings down to 843,138 bitcoin, worth about $52.6 billion at current prices. The company’s average purchase price across its holdings stands at $75,419 per coin, for a total cost basis of roughly $63.5 billion including fees and expenses, Saylor said.

Strategy said it used the proceeds to fund distributions on its preferred stock and to repurchase shares of STRC.

The move comes following weak second-quarter earnings from Strategy (NASDAQ:MSTR) and Coinbase Global Inc (NASDAQ:COIN) last week. 

Strategy reported a substantially larger-than-expected second-quarter loss, as the company continued to nurse deep losses on its Bitcoin holdings. The firm’s losses added to anxiety over the company’s massive Bitcoin pile, given that it recently began offloading some of its holdings to meet mounting capital and debt obligations. 

Coinbase also clocked weaker-than-expected quarterly earnings, as an ongoing, widespread pivot out of crypto markets battered transaction volumes for the largest U.S. crypto exchange. 

Crypto has been struggling with a prolonged exodus of investor interest in 2026, as sustained losses in Bitcoin, Strategy’s sales, and the increasing popularity of artificial intelligence-linked assets largely overshadowed the industry. 

Prolonged risk-aversion, due to the U.S.-Iran war, also weighed on the sector.