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Crypto

Bitcoin Plunges Below $63,000 Amid Security Concerns, ETF Outflows

Guavy AI Editorial Team
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BTC
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Bitcoin (BTC) started August on a cautious note as traders assessed a mix of security concerns, slowing institutional demand, and macroeconomic uncertainty.

The world's largest cryptocurrency slipped below $63,000 after investors reacted to continued spot ETF outflows, a major Coldcard hardware wallet exploit, and rising US Treasury yields.

Coldcard, a popular hardware wallet, has been exploited by hackers who stole more than $100 million worth of Bitcoin through a key-generation vulnerability.

Institutional demand for Bitcoin has also softened due to uncertain market conditions, with spot Bitcoin ETFs recording significant net outflows in recent sessions.

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