Bitcoin Shrugs Off Hardware Wallet Exploit and Minority Chain Split

Bitcoin's price has shown remarkable resilience in the face of two significant events: the Coldcard hardware wallet exploit and the collapse of BIP-110. The former resulted in potential losses of around $130 million, while the latter saw a minority chain emerge but quickly stall due to lack of support.

The Coldcard incident, which began on July 30, affected over 1,100 addresses and led to the theft of an estimated 2,055 BTC. Despite this, Bitcoin's price remained relatively stable, fluctuating between $64,500 and $65,250 over the past 48 hours.

Meanwhile, BIP-110, which aimed to restrict certain data on Bitcoin, received only 2.53% support from miners before collapsing due to a lack of backing. The minority chain that emerged from this split was left stranded with an extremely low hash rate, making it difficult for it to reach the next difficulty adjustment.

Traders are now keeping a close eye on the $64,000 to $66,000 price range, which is seen as crucial support and resistance levels. A sustained move above or below this corridor could have significant implications for Bitcoin's future trajectory.