Coldcard Hack Sends Bitcoin Price Below $63K Amid Fork Uncertainty

Bitcoin's price has dropped below $63,000 following a security breach in Coldcard hardware wallets that drained over 1,100 BTC. The incident has shaken market confidence and coincides with two upcoming events: the BIP-110 soft fork starting miner signaling around August 7, and the eCash hard fork on August 21, which will create a separate blockchain.

The security breach has added to bearish sentiment, as institutional investors continue to pull out. $265 million in ETF outflows have been reported, with traders watching if Bitcoin can regain the $64,000-$65,000 range or drop further toward $58,000-$60,000.