Bitcoin nears $64,000 as traders look past Strategy's BTC sales and Coldcard sweeps
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Bitcoin rebounded to nearly $64,000 during Asian trading hours, recovering above $63,000 after dipping to about $62,250 on Monday. This price movement occurred despite ongoing uncertainty around repeated Bitcoin wallet sweeps linked to Coldcard firmware vulnerabilities. Meanwhile, the Bitcoin treasury firm Strategy sold 1,638 BTC for approximately $105 million between July 27 and August 2, marking its third sale in 2026.
Why it matters
The price recovery suggests traders are looking past the recent Coldcard wallet sweeps that have drained hundreds of bitcoins. Maintaining the $63,000 level through the U.S. trading session is important as repeated failures to hold this threshold might indicate weakening buyer support. Strategy's sales and resulting cash position changes also reflect ongoing corporate activity affecting Bitcoin supply.
Key context
Four waves of Bitcoin sweeps have targeted addresses generated by affected Coldcard firmware, draining roughly 449 BTC from 709 addresses as of Monday, with no confirmed identity of the operator behind these sweeps. Strategy's recent BTC sales were conducted below its average cost basis, with proceeds used for preferred dividends and share repurchases rather than Bitcoin re-accumulation. Strategy currently holds 842,138 BTC and has not bought any in over five weeks.
Key numbers and entities
Bitcoin price neared $64,000, recovering from about $62,250. Strategy sold 1,638 BTC for approximately $105 million, at an average price of $63,957, compared to its average cost basis of $75,419 per Bitcoin. Coldcard-related sweeps moved roughly 449 BTC from 709 addresses. Strategy’s remaining Bitcoin holdings total 842,138 BTC. Other cryptocurrencies mentioned include ether (~$1,865), XRP ($1.08), BNB (~$591), Solana (~$74), Tron (33 cents), Dogecoin (7 cents), and Hyperliquid's HYPE ($54).
What remains unclear
The source does not confirm whether the same actor is responsible for the four waves of Coldcard wallet sweeps. It also remains uncertain if Bitcoin can sustain above $63,000 through the U.S. session, as previous attempts have been inconsistent. No further details are given about the resolution of the Coldcard wallet situation or Strategy's future Bitcoin buying plans.