Bitcoin edged higher to trade above $63,000, partially recovering from the pressure that hit the cryptocurrency market following a security breach targeting Coldcard wallets, along with the continued impact of weak financial results from several major companies operating in the sector.
The world’s largest cryptocurrency gained around 0.2 percent to trade at $63,711. News about the resumption of talks between the United States and Iran failed to improve market sentiment, despite a notable decline in oil prices.
Canadian company Coinkite, the developer of Coldcard cold wallets, announced that its devices had been affected by a security breach that allowed hackers to access user funds. According to Galaxy Research data, around $90 million worth of Bitcoin was stolen from more than 4,500 wallets.
The incident raised widespread concerns across the cryptocurrency market because cold wallets are considered among the safest methods for storing digital assets. They usually operate separately from public networks, but a vulnerability in Coldcard devices made them accessible remotely.
In another development, Strategy, the largest publicly listed company holding Bitcoin reserves, disclosed the sale of 1,638 Bitcoin worth approximately $104.7 million, according to a filing submitted to the United States Securities and Exchange Commission.
The company, led by Michael Saylor, said the sales were completed at an average price of $63,957 per Bitcoin. This reduced its total holdings to 843,138 Bitcoin, with a current market value of approximately $52.6 billion.
The average purchase cost of its holdings stands at around $75,419 per Bitcoin, representing a total acquisition cost of approximately $63.5 billion.
Strategy added that it used the proceeds from the sale to finance preferred stock dividends and repurchase STRC shares.
The move came after Strategy and Coinbase reported quarterly results that fell short of market expectations. Strategy recorded larger than expected losses as it continued to be affected by the declining value of its Bitcoin holdings.
Meanwhile, Coinbase profits declined due to lower trading volumes as investors continued to avoid the cryptocurrency market.
The digital asset sector has faced persistent pressure throughout 2026 amid declining investor interest, continued Bitcoin losses, sales carried out by Strategy, and growing demand for assets associated with artificial intelligence. These factors have limited the appeal of the cryptocurrency market.
Risk aversion related to geopolitical tensions has also added further pressure to the sector.
Elsewhere in the cryptocurrency market, Ethereum declined by around 1.2 percent to $1,867, while XRP fell by 0.5 percent and Solana dropped by 0.3 percent.
In contrast, Cardano gained around 2.5 percent, while BNB recorded a slight increase of 0.1 percent.
Among meme coins, Dogecoin declined by 0.4 percent, while TRUMP rose by around 2.4 percent.
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