Bitcoin clawed back near $64K by Monday morning even as a Coldcard hardware wallet exploit drained 1,367 BTC last week. On-chain data shows whales adding to their holdings through the scare while the smallest retail wallets sold, and Bitcoin now sits between technical support at $60,730 and resistance near $64,636.
Bitcoin nearly slipped below $62K late Sunday, then clawed back to near $64K by Monday morning, up 1.3% over 24 hours. The bounce tracked a broader risk-on mood in traditional markets, where the Nasdaq climbed nearly 2%.
That recovery is sharing headlines with a hardware wallet exploit that has rattled self-custody confidence. Attackers drained 1,367 BTC in under an hour last week, roughly $87 million at current prices, from Coldcard devices made by Coinkite. The underlying flaw traces to a firmware update pushed back in March 2021, hitting the Mk3 model line hardest, and Coinkite shipped hotfix firmware between July 31 and August 1. Seeds generated on the vulnerable firmware stay exposed unless holders migrate them.
Whales buy the dip retail is selling
Larger holders moved the opposite direction from panicked retail. Wallets holding 10 to 10,000 BTC added 19,610 BTC, a 0.14% increase, since July 29, according to on-chain data from Santiment, even as wallets holding under 0.01 BTC trimmed their balances over the same stretch. The split suggests the Coldcard scare weakened confidence among smaller holders, while larger wallets used the dip to add exposure.
Bitcoin's weekly performance still lags the daily bounce: the asset remains down 2.2% over seven days, and the crypto Fear & Greed Index sits at 28, firmly in "Fear" territory and barely changed from last week's reading of 30.
Support holds, resistance looms
The technical picture shows Bitcoin trading above the $60,730 support level but below its 50-day EMA near $64,636. A break above that EMA could open a path toward the 200-day EMA near $72,740, while another rejection risks a retest of the $60,730 floor. For now, the $62K level that held over the weekend is the line traders are watching to judge whether the Coldcard fallout is denting confidence beyond the wallets it directly hit.
Sources: Crypto Briefing, Coinpedia Fintech News, Crypto Briefing
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