Bitcoin Rebounds as Coldcard Breach Weighs on Investor Sentiment
Bitcoin rebounded on Tuesday, recovering from earlier losses as investors weighed concerns over a Coldcard wallet breach against supportive macroeconomic factors. The price of Bitcoin rose by 2.2% to $63,800 at 13:07 GMT, according to CoinMarketCap.
The rebound came after US President Donald Trump announced that he had postponed new military strikes against Iran while awaiting the outcome of talks aimed at ending the conflict and resolving disputes over control of the Strait of Hormuz. However, Iranian Foreign Ministry spokesperson Esmaeil Baghaei denied Trump's claims on Monday, insisting there were no negotiations with the United States and no meetings scheduled between the two sides.
The Coldcard breach weighed heavily on investor sentiment, prompting users to move their holdings to newly created wallets or centralized exchanges as a precaution. The incident resulted in the theft of nearly $89 million worth of Bitcoin from more than 4,500 addresses, with losses totaling around 1,367 Bitcoin.