Bitcoin, ether decline as Coldcard exploit enters a fifth day

MarketsBitcoin, ether decline as Coldcard exploit enters a fifth dayNevertheless, the drop in crypto prices seems restrained given the magnitude of losses in the wallet hack and the erosion of confidence in cold storage.By Omkar Godbole, Shaurya Malwa|Edited by Sheldon Reback Aug 3, 2026, 10:51 a.m. 3 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBitcoin and ether fell as the $114 million Coldcard hardware wallet hack shook confidence in self-custody and pushed some holders back to exchanges.Derivatives markets showed mixed signals, with BTC futures open interest at a one-month high, a slightly bearish long-short skew, and options volatility steady as call bets cluster around $68,000 and $70,000.NEAR Protocol reported more than $24 billion in lifetime volume for its Intents system and rolled out quantum-safe cryptography, dynamic resharding and AI compute staking.Bitcoin BTC$62,622.90 and ether (ETH) are under pressure as the multimillion-dollar hack of the hardware wallet Coldcard enters a fifth day, raising questions over the safety of direct custody as a holding strategy.The incident has rocked sentiment on crypto social media, with numerous small holders complaining of losing long-term holdings and reassessing their faith in crypto."Worse for sentiment, it [the hack] has spooked holders into sending coins back to exchanges, the opposite of the self-custody trend crypto is built on,” analysts at Marex said. “When the thing wobbling is cold storage itself, a cheaper barrel does not fix it." Given the gravity of the situation and the $114 million of bitcoin stolen, the price reaction of the largest cryptocurrency appears relatively restrained. BTC was recently 1.5% lower over 24 hours to $62,595, a level it has visited several times in recent weeks, with ether down nearly 2% to $1,842. The CoinDesk DeFi Select Index has dropped 2.5%.Bitcoin’s 200-week simple moving average, currently …

Bitcoin, ether decline as Coldcard exploit enters a fifth day

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