Bitcoin Nears $64,000 as Crypto Traders Look Past Strategy BTC Sales

What to Know

• Bitcoin neared $64,000 in Asian trading after rebounding from a Monday low near $62,250.
• BTC was up about 2% over 24 hours and 1% on the week, with traders focused on whether it can hold above $63,000 through the U.S. session.
• Ether traded near $1,865, rising only marginally on the day while remaining down 1% over seven days.
• XRP rose almost 1% to $1.08 and gained 2% on the week, while BNB added 1.5% to nearly $591 and led major tokens with almost 5% weekly gains.
• Solana gained over 1% to nearly $74, tron rose 1% to 33 cents, and dogecoin advanced 1% to 7 cents.
• Hyperliquid’s HYPE bounced over 4% to $54, though it remained down 3% over seven days.
• The crypto recovery came despite unresolved Coldcard wallet sweeps that took roughly 449 bitcoin from 709 addresses on the revised count.
• Strategy disclosed it sold 1,638 bitcoin for about $105 million between July 27 and Aug. 2, its third sale of 2026.
• Strategy’s average sale price was $63,957, below its $75,419 average cost basis, with proceeds directed to preferred dividends and STRC buybacks rather than bitcoin purchases.
• Asian equities weakened as MSCI’s Asia Pacific gauge fell 0.7%, while Nasdaq 100 futures rose 0.4%.

Bitcoin Reclaims a Key Short-Term Level

Bitcoin moved back toward $64,000 during Asian morning trading on Tuesday, recovering the $63,000 level it lost during Monday’s session and giving crypto traders a firmer tone after a choppy start to the week. The move followed a dip to about $62,250 on Monday before a steadier bid carried BTC to just above $64,100 overnight.

The rebound left bitcoin up about 2% over 24 hours and 1% on the week, placing the largest cryptocurrency back near a short-term level that market participants have been watching closely. The key question now is whether buyers can defend the reclaimed $63,000 area through the U.S. session, after the level was reclaimed and lost twice in three days.

For technical traders, repeated tests of the same price zone can become more important than the level itself. Holding above $63,000 would suggest that buyers remain willing to step in after dips, while another failure could reinforce concern that demand is thinning below $62,500 each time bitcoin pulls back. That makes the next trading session a meaningful checkpoint for short-term momentum, even if the broader crypto market has not yet shown a decisive breakout.

Major Tokens Mostly Advance as Ether Lags

The broader cryptocurrency market also improved, with most major tokens showing gains over the week. Ether remained the notable exception among large tokens, trading near $1,865 and up only marginally on the day while still down 1% over seven days. That underperformance stood out as bitcoin and several other majors moved higher.

XRP rose almost 1% to $1.08 and was up 2% on the week, continuing to trade with a firmer tone alongside the broader market recovery. BNB added 1.5% to nearly $591 and led major cryptocurrencies over the past seven days with gains of almost 5%, making it one of the clearest relative outperformers among the larger tokens.

Solana gained over 1% to nearly $74, while tron advanced 1% to 33 cents and dogecoin also rose 1% to 7 cents. Hyperliquid’s HYPE bounced over 4% to $54 after last week’s slide, though it remained down 3% over seven days. That mix shows a market where dip buying has returned in several tokens, but not evenly enough to erase recent weakness across the board.

Market participants often read uneven performance across major tokens as a sign that liquidity is selective rather than broad. Bitcoin’s ability to reclaim a watched price level has helped sentiment, but ether’s lag and HYPE’s remaining weekly decline show that traders are still differentiating between assets rather than treating the sector as a single risk trade.

Coldcard Wallet Sweeps Remain Unresolved

The market recovery came despite continued uncertainty around the Coldcard wallet sweeps. A fourth wave of sweeps against addresses generated by the affected firmware ran through Monday, taking roughly 449 bitcoin from 709 addresses on the revised count. Galaxy Research has not confirmed whether the same operator is behind it.

The unresolved nature of the situation has kept security concerns in focus, even as prices have rebounded. Wallet-related incidents can affect sentiment because they touch the core issue of custody, which remains central to bitcoin ownership. While the broader market did not sell off aggressively in response, traders have continued to monitor whether any further sweeps develop and whether the issue remains contained.

For bitcoin holders, the episode is a reminder that market risk and operational risk are separate but connected. A price rebound can coexist with caution around wallet infrastructure, especially when large amounts of bitcoin are moved from affected addresses. The absence of a confirmed operator behind the fourth wave also leaves room for uncertainty, which may keep some traders cautious even as BTC pushes back toward short-term resistance.

Strategy Sale Adds Another Layer to BTC Sentiment

Strategy also drew attention after disclosing that it sold 1,638 bitcoin for about $105 million between July 27 and Aug. 2. The sale, disclosed Monday in an SEC filing, marked the company’s third sale of 2026. The average sale price was $63,957, below the company’s $75,419 average cost basis.

Proceeds from the sale went to preferred dividends and STRC buybacks rather than back into bitcoin. Strategy’s holdings now stand at 842,138 BTC, and the company has not bought any bitcoin in more than five weeks. Michael Saylor said the moves lifted the dollar reserve to $4 billion and extended its duration by 57 days.

For a market that has long watched Strategy as a highly visible corporate bitcoin holder, the sale adds nuance to the narrative. The company still holds a very large BTC position, but the recent transaction shows that balance sheet management, dividend obligations, buybacks, and liquidity planning can influence activity even among firms strongly associated with bitcoin accumulation.

Traders appeared to look past the sale during the Asian session, with BTC still recovering toward $64,000. However, the disclosure may remain part of the background discussion if bitcoin struggles again near the $63,000 area. Some chart watchers may see the market’s resilience as encouraging, while others may focus on the below-cost sale price and the absence of fresh purchases for more than five weeks.

Asian Equities Weaken as Crypto Finds Support

Broader market conditions offered a mixed handoff. MSCI’s Asia Pacific gauge fell 0.7%, marking its second straight decline, while Korea’s Kospi dropped 1.1% after being up 2.1% earlier. A regional semiconductor index was off 1%, reflecting pressure tied to jitters around the artificial intelligence trade.

At the same time, Nasdaq 100 futures rose 0.4%, helped by Palantir gaining 14% after hours on raised guidance. Amazon fell 1.6% post-market after Jeff Bezos disclosed a share sale. The result was a cross-market backdrop that was not uniformly supportive for risk assets, yet bitcoin still managed to recover from Monday’s low.

This divergence matters because crypto often trades in dialogue with broader risk appetite, especially when technology stocks, futures, and regional equity markets are moving sharply. A weaker Asian equity session did not prevent bitcoin from rebounding, but traders will likely watch whether that resilience holds if U.S. equity sentiment shifts during the session.

Why the $63,000 Area Matters Now

The near-term market focus remains the $63,000 level. Bitcoin has already reclaimed and lost that area twice in three days, making it a practical line for short-term traders rather than a theoretical level. If BTC can stay above it through the U.S. session, the rebound from about $62,250 could look more durable.

If bitcoin fails for a third time, however, market participants may interpret it as a sign that fewer buyers are stepping in below $62,500 on repeated pullbacks. That would not necessarily change the broader market structure, but it could weaken short-term confidence and encourage traders to wait for clearer confirmation before adding exposure.

The next phase therefore depends less on headlines alone and more on how price behaves around levels already tested repeatedly. With major tokens mostly green on the week, ether lagging, Coldcard uncertainty unresolved, and Strategy’s bitcoin sale still in focus, the market has enough catalysts to keep volatility elevated. For now, bitcoin’s ability to hold above $63,000 is the central signal traders are watching.

Frequently Asked Questions (FAQs)

Why did bitcoin rebound toward $64,000?

Bitcoin rebounded after dipping to about $62,250 on Monday, with buyers helping it reclaim the $63,000 level and push to just above $64,100 overnight. The move left BTC up about 2% over 24 hours and 1% on the week.

What is the key bitcoin level traders are watching?

Traders are watching whether bitcoin can hold above $63,000 through the U.S. session. The level has been reclaimed and lost twice in three days, making another test important for short-term sentiment.

How did ether perform compared with other major tokens?

Ether lagged the broader market. It traded near $1,865, rose only marginally on the day, and remained down 1% over seven days, making it the lone large token still lower on the weekly view.

Which major cryptocurrency led weekly gains?

BNB led major tokens over the past seven days, gaining almost 5% on the week. It also added 1.5% on the day to trade nearly $591.

What happened with the Coldcard wallet sweeps?

A fourth wave of sweeps against addresses generated by the affected firmware ran through Monday. The revised count showed roughly 449 bitcoin taken from 709 addresses, and Galaxy Research has not confirmed whether the same operator is behind it.

What did Strategy disclose about its bitcoin holdings?

Strategy disclosed that it sold 1,638 bitcoin for about $105 million between July 27 and Aug. 2. Its holdings now stand at 842,138 BTC, and the company has not bought any bitcoin in more than five weeks.

Why did Strategy sell bitcoin?

The proceeds went to preferred dividends and STRC buybacks rather than back into bitcoin. Michael Saylor said the moves lifted the dollar reserve to $4 billion and extended its duration by 57 days.

How did broader markets trade alongside crypto?

Asian equities weakened, with MSCI’s Asia Pacific gauge falling 0.7% and Korea’s Kospi dropping 1.1%. Nasdaq 100 futures rose 0.4%, helped by Palantir gaining 14% after hours, while Amazon fell 1.6% post-market.

What would a third failure at $63,000 suggest?

A third failure to hold above $63,000 could suggest fewer buyers are stepping in below $62,500 on repeated pullbacks. Some traders may view that as a warning that short-term demand is weakening.

Photo by Alesia Kozik on Pexels