Bitcoin Price Plummets Amid Coldcard Exploit, ETF Outflows, and Rising Treasury Yields

Bitcoin's price dropped to $62,680.61 USD on August 3, as investors reacted to several key developments in the market.

The Coldcard hardware wallet security exploit has raised concerns about digital asset security and temporarily weakened investor confidence, with hackers reportedly stealing over $100 million worth of Bitcoin by exploiting a key-generation vulnerability.

Additionally, spot Bitcoin ETF outflows have continued, with significant net outflows recorded in recent sessions as fund managers reduce exposure amid uncertain market conditions.

Rising US Treasury yields also put pressure on risk assets, prompting traders to reassess expectations for future Federal Reserve rate cuts and reducing demand for non-yielding assets such as Bitcoin.