Cryptocurrency markets ignore easing inflation signals as a security incident drains nearly $89 million from wallets linked to Coldcard devices.
Bitcoin fell below $63,000, extending losses after a series of Coldcard-linked wallet sweeps erased nearly $89 million in digital assets. The decline persisted despite broader risk-on sentiment, as oil prices and Treasury yields retreated on optimism over U.S.-Iran negotiations easing inflation pressures.
Ether and other major cryptocurrencies mirrored bitcoin’s decline, failing to capitalize on the macro tailwinds. Prior to the breach, bitcoin had traded near $64,500, with market consensus expecting a rebound amid cooling inflation expectations.
No immediate market reaction data was reported beyond the price drop, though the security incident underscored persistent vulnerabilities in crypto storage solutions.