What to Know

  • Bitcoin fell about 1% to $62,800 after reaching a Sunday high of $63,600.
  • Ether dropped over 1% to $1,858 and has not managed $1,900 since last week.
  • Observed Coldcard-linked losses have reached roughly 1,367 bitcoin, or nearly $89 million, across about 4,585 addresses.
  • The latest weakness came despite a more supportive macro backdrop, including lower oil prices, lower Treasury yields and firmer equity futures.
  • Brent crude futures for October fell as much as 7.3% to $81.55 a barrel after fresh U.S.-Iran diplomacy reduced immediate inflation concerns.
  • The 10-year Treasury yield declined four basis points to 4.69% after reaching its highest level since January 2025 last week.
  • XRP slipped almost 1% to $1.07, while solana and dogecoin also edged lower.
  • BNB was the only major token in the green, flat on the day and up 1.6% over the week.
  • Technical traders are watching whether bitcoin can hold $62,000 as talks around Iran and the Strait of Hormuz continue.

Crypto Fails to Rally Despite a Softer Macro Tape

Bitcoin slipped below the $63,000 mark on Monday, weakening even as several traditional market signals moved in a direction that would usually help risk assets. The largest cryptocurrency fell from a Sunday high of $63,600 to $62,800, leaving it down about 1% on the day and 4% over the past week. Ether also moved lower, dropping over 1% to $1,858 and remaining below the $1,900 level it has not reclaimed since last week.

The move stood out because the broader macro backdrop appeared to be improving. Oil prices retreated, Treasury yields eased and stock futures advanced after renewed U.S.-Iran diplomacy lowered immediate fears around energy supply and inflation. In many recent market cycles, that combination has tended to support speculative assets, including crypto. This time, however, bitcoin and ether failed to catch a bid, suggesting investors were focused less on global macro relief and more on security concerns inside the digital asset market.

FXCOINZ market coverage shows a crypto tape struggling with its own internal pressure points. While inflation expectations and rate-sensitive assets reacted positively to the decline in oil, major tokens remained heavy. That divergence has become the central theme for traders trying to assess whether Monday’s weakness is a temporary market-specific scare or a sign of deeper confidence problems following the latest Coldcard-linked wallet sweeps.

Coldcard-Linked Sweeps Weigh on Sentiment

The main overhang for digital assets remains a widening exploit involving Coldcard-generated addresses. Observed losses have reached roughly 1,367 bitcoin, worth nearly $89 million, across about 4,585 addresses. The scale of the incident has created fresh anxiety across a market that depends heavily on the idea that self-custody, when properly implemented, can reduce counterparty risk.

The wallet sweeps have unfolded across three attack waves. The first wave took 1,083 bitcoin from 1,196 addresses on July 30. A later third wave took 208 BTC from 1,912 wallets, meaning the attacker reached more wallets for far less total bitcoin. That pattern has led some market participants to infer that larger balances may have been targeted earlier, with subsequent activity reaching smaller wallets worth only a few thousand dollars each.

The declining average haul per address has not calmed the market. For many traders, the key issue is not simply the size of the losses but the perception that containment remains uncertain. Hardware wallets are often viewed as a high-security option for long-term holders, and any exploit linked to generated addresses can create a chilling effect beyond the immediate balances drained. Even investors not directly affected may become less willing to add exposure until there is more clarity around the scope and mechanism of the issue.

Bitcoin, Ether and Major Tokens Move Lower

Bitcoin was not alone in Monday’s decline. Ether fell to $1,858 and remained down 5% on a seven-day basis. XRP slipped almost 1% to $1.07. Solana lost half a percent to nearly $73, while dogecoin moved by the same margin to just under 7 cents. The pullback was broad enough to suggest general risk reduction across major crypto assets, rather than a move isolated to a single token.

BNB was the notable exception among major names, holding flat on the day and gaining 1.6% over the week. Hyperliquid’s HYPE moved in the opposite direction, falling 1% to $52.52 and sitting down 12.8% over seven days, the weakest performance among the top ten. That spread in performance underscores how investors are differentiating between tokens even as the broader market trades defensively.

Ether’s weakness is also notable because it came alongside a small inflow into ether funds on Friday, while bitcoin funds saw an outflow. That split is unusual in a market where bitcoin often sets the direction and ether follows. The divergence suggests institutional flows may be becoming more selective, although spot price action still shows that ether has not escaped the pull of broader crypto caution.

Oil, Yields and Stocks Pointed the Other Way

The macro setup looked considerably more constructive than the crypto screen suggested. Brent crude futures for October fell as much as 7.3% to $81.55 a barrel after President Donald Trump said he had called off a strike on Iran and would open fresh talks Monday. Saudi Arabia was among the allies pushing for a deal to reopen the Strait of Hormuz, a key energy route whose disruption can quickly feed inflation fears.

Lower oil prices can ease inflation pressure by reducing the cost of energy throughout the economy. That, in turn, can reduce pressure on bond yields and improve the appeal of growth-sensitive and risk-oriented assets. Treasuries rallied across the curve as the oil move eased inflation worries, with the 10-year yield falling four basis points to 4.69%. The yield had reached its highest level since January 2025 last week.

Equity futures also reflected a more optimistic tone. Nasdaq 100 futures and European share futures both gained 0.8%, while gold added 0.3% to about $4,060 an ounce. In a typical risk-on session, rising stock futures and falling yields would provide at least some support for bitcoin. Instead, the crypto market remained under pressure, strengthening the view among chart watchers that the selling was linked to internal market confidence rather than macro stress.

Why the Divergence Matters

The failure of crypto to benefit from friendlier macro conditions matters because bitcoin is often treated as both a liquidity-sensitive asset and a confidence-sensitive asset. When Treasury yields fall, the relative appeal of non-yielding assets can improve. When oil declines because geopolitical risk appears to be easing, investors may become more willing to take risk. When equity futures rise, crypto often follows as part of a broader risk appetite trade.

Monday’s session challenged that playbook. Bitcoin ignored falling oil, falling yields and stronger equity futures, which means traders are reassessing the drivers of near-term price action. If security fears remain dominant, macro relief may not be enough to produce a sustainable bounce. That would leave the market more dependent on developments around the wallet exploit, investor reassurance and evidence that selling pressure is fading.

At the same time, the macro backdrop has not become irrelevant. A deal that reopens Hormuz would likely push oil lower again and may give crypto another opportunity to respond to the same supportive setup it missed. If bitcoin still fails to rally under those conditions, some market participants would view that as confirmation that the drag is coming from inside the digital asset market rather than from broader cross-asset conditions.

The $62,000 Level Comes Into Focus

Technical traders are watching whether bitcoin can hold $62,000 as talks around Iran continue. That level has become a near-term reference point because it sits close to current spot pricing and could help determine whether the latest decline remains orderly or begins to develop into a deeper drawdown. Holding above it may encourage dip buyers to test the market again, especially if oil continues to fall and yields remain contained.

A break below $62,000, however, could reinforce the view that confidence has been damaged by the Coldcard-linked losses. In that scenario, macro support may be overshadowed by caution among holders who are more focused on custody risk than on interest rates or energy prices. For bitcoin, the next phase may therefore depend less on a single economic data point and more on whether the market sees evidence that the exploit has been contained.

For now, FXCOINZ sees a market caught between two narratives. On one side, geopolitical developments and falling oil prices are reducing inflation concerns, a backdrop that would normally favor risk-taking. On the other side, the observed loss of nearly $89 million in bitcoin from thousands of addresses has injected a direct security concern into the heart of crypto sentiment. Until that tension resolves, price action may remain choppy and unusually disconnected from traditional risk signals.

Frequently Asked Questions (FAQs)

Why did bitcoin fall below $63,000?

Bitcoin fell below $63,000 as market sentiment was pressured by Coldcard-linked wallet sweeps, despite a more supportive macro backdrop marked by lower oil prices, lower Treasury yields and stronger equity futures.

How much bitcoin has been lost in the Coldcard-linked incident?

Observed losses have reached roughly 1,367 bitcoin, valued at nearly $89 million, across about 4,585 addresses.

What was bitcoin’s latest reported price move?

Bitcoin dropped from a Sunday high of $63,600 to $62,800 on Monday, leaving it down about 1% on the day and 4% over the past week.

How did ether perform?

Ether fell over 1% to $1,858 and has not managed to reclaim $1,900 since last week. It was down 5% on a seven-day view.

Why did lower oil prices not help crypto?

Lower oil prices would normally ease inflation concerns and support risk assets, but traders appeared more focused on market-specific security fears tied to the Coldcard-linked wallet sweeps.

What happened to Brent crude?

Brent crude futures for October fell as much as 7.3% to $81.55 a barrel after fresh U.S.-Iran talks reduced immediate concerns around energy supply and inflation.

What level are bitcoin traders watching now?

Technical traders are watching whether bitcoin can hold $62,000 as U.S.-Iran talks continue and as the market evaluates whether security concerns are still outweighing macro support.

Which major token performed better than the others?

BNB was the only major token in the green, trading flat on the day and rising 1.6% over the week.

What could change the market tone?

A deal that reopens the Strait of Hormuz could push oil lower again and give crypto another chance to respond to a supportive macro setup, though continued wallet-security concerns may still limit any rebound.

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