Bitcoin loses upward momentum

By Mostafa Mahmoud On Aug 3, 2026

BTCUSD

Bitcoin trades around the $62,000 support level, with prices likely to move sideways between the $66,900 resistance level and the aforementioned support.

Support	62000	58700
Resistance	66900	70000

Bitcoin fell 1% to $62,829.4 as pressure on the cryptocurrency market continued following the Coldcard wallet hack, which resulted in nearly $90 million being stolen from more than 4,500 wallets, raising widespread concerns over cold wallet security, while renewed U.S. Iran negotiations and lower oil prices failed to improve investor risk appetite.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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