{
  "type": "article",
  "title": "Bitcoin Price Slips Toward $63,000 Amid ETF Outflows and New Coldcard Wallet Security Fears",
  "summary": "Bitcoin extended its downward trend following a more than 2.8% decline in the previous week. Continued outflows from US-listed spot ETFs and fresh security concerns surrounding Coldcard hardware wallets have dampened investor sentiment.",
  "content": "Bitcoin extended its downward trajectory, trading below key levels after slipping more than 2.8% in the preceding week. Institutional demand showed visible signs of cooling as US-listed spot Exchange Traded Funds recorded a net outflow, interrupting a three-week streak of positive capital inflows. Simultaneously, growing apprehension regarding potential vulnerabilities in Coldcard hardware wallets, which involved the movement of nearly 389 BTC, introduced fresh uncertainty and placed additional selling pressure on the leading digital asset.\n\nCooling Institutional Demand and ETF Outflows\nInstitutional interest in the cryptocurrency market displayed early indications of caution. Data compiled by SoSoValue revealed that spot Bitcoin ETFs registered net outflows totaling $61.53 million last week, breaking a three-week sequence of consecutive positive inflows. Market participants note that if these outflows persist and accelerate, the leading cryptocurrency could experience a deeper technical correction.\n\nFresh Wave of Coldcard Wallet Vulnerabilities\nAlex Thorn of Galaxy Research drew attention to a potential fourth wave of security incidents targeting Coldcard wallets, with 462 victim addresses transferring approximately 388.9 BTC across 216 newly created destinations. According to the findings, the suspicious activity occurred between blocks 960,778 and 960,792, comprising 218 transactions. This transaction volume was roughly 45 times higher than pre-incident baselines, with a portion of the compromised funds already routed to secondary hop addresses.\n\nGalaxy Research had previously tracked three earlier waves of suspected attacks impacting Coldcard-generated addresses, which cumulatively affected 4,585 addresses and resulted in the drainage of 1,367.05 BTC. Emphasizing the urgency of the situation, Alex Thorn posted on X, urging users to remove their funds from Coldcard devices immediately and utilize high transaction fees.\n\nExpressed simply, certain Coldcard devices generated cryptographic secrets with insufficient unpredictability. An attacker capable of reproducing an affected seed phrase can compromise and drain the associated bitcoin without physical access to the hardware device. While hardware wallets normally rely on high entropy for seed generation, this specific issue remains isolated to certain Coldcard models and does not compromise the underlying Bitcoin network or blockchain protocol. Nevertheless, if further compromised wallets are drained and liquidated, it could amplify near-term selling momentum.\n\nTechnical Outlook and Price Action\nFrom a technical perspective, live market data indicates that Bitcoin currently trades around $63,598. Should the ongoing correction extend further, the price could gravitate toward long-term support anchored by an ascending trendline connecting multiple swing lows established since January 2023, near the $60,000 threshold.\n\nOn the daily charts, Bitcoin continues to exhibit a prevailing bearish bias, with prices remaining capped below major Exponential Moving Averages. Technical indicators such as the Relative Strength Index hover in weaker territory, while the Moving Average Convergence Divergence histogram remains negative, signaling that downward momentum retains dominance despite occasional relief bounces. Immediate resistance levels are stacked overhead, while psychological support near $60,000 serves as a crucial floor for the asset.\n\nBitcoin remains the largest cryptocurrency by market capitalization, functioning as a decentralized digital currency designed to operate independently of central authorities or intermediaries. Alongside Bitcoin, the broader digital asset ecosystem encompasses alternative cryptocurrencies known as altcoins, stablecoins pegged to reserve assets to mitigate volatility, and key market metrics such as Bitcoin dominance, which measures the asset's share of the total cryptocurrency market valuation.\n\nWhat this means for you\nAcross India: Crypto investors should exercise increased caution regarding digital asset security and hardware wallet configurations in light of recent global security incidents and market outflows.\n\nGlobally: Institutional capital outflows and hardware wallet vulnerabilities may drive near-term market volatility, requiring traders to practice strict risk management.\n\nQuestions & Answers\n\n1. What caused the recent decline in Bitcoin prices?\nBitcoin's price decline was primarily driven by spot ETF capital outflows and growing security concerns surrounding Coldcard wallet vulnerabilities.\n\n2. How many Bitcoin were involved in the recent Coldcard wallet incidents?\nThe recent security incident involved the movement of approximately 388.9 BTC, while previous waves affected a cumulative 1,367.05 BTC.\n\n3. How much capital was withdrawn from spot Bitcoin ETFs last week?\nAccording to SoSoValue data, US spot Bitcoin ETFs recorded net outflows of $61.53 million last week.\n\n4. Where is Bitcoin's major psychological support level located?\nAnalysts identify the major psychological support level for Bitcoin around the $60,000 mark, coinciding with long-term ascending trendlines.",
  "url": "https://trendkia.com/en/crypto/bitcoin-price-slips-toward-63000-amid-etf-outflows-and-new-coldcard-wallet-security-fears-13258",
  "category": "Crypto",
  "publishedAt": "2026-08-03",
  "tags": [
    "Bitcoin",
    "Cryptocurrency",
    "ETF",
    "Coldcard Wallet",
    "Market Analysis",
    "Blockchain",
    "finance"
  ],
  "language": "en",
  "site": "TrendKia"
}