Bitcoin flat near $64K as Kospi surges 17% and Coldcard bug drains 594 BTC
Bitcoin (BTC) is largely flat near $64,300, even as global equities rebound sharply. Ether, XRP, and Solana trade with limited movement, and most majors remain lower on the week.
In Asia, South Korea’s Kospi jumps as much as 17%, led by Samsung and SK Hynix (both up more than 23%) and Taiwan Semiconductor (+10%) after a steep prior selloff. The crypto market shows little follow-through from the risk-on move, suggesting BTC is still decoupled from the tech-sector bounce.
Weekly momentum stays soft: HYPE (-5%), SOL (-3%), XRP (-3%), and BTC (-2%). BNB is the exception, up about 3% to around $590.
A separate headline involves a security flaw in certain Coldcard hardware wallets. Hackers drained about 594 BTC (roughly $38m) across around 500 wallets via a key-generation issue, but the theft did not register clearly in BTC price during the period.
FX and rates also remain in focus: the yen weakens after the Bank of Japan leaves rates unchanged, while Treasuries and oil move lower with the dollar. For traders, the main read-through is that macro/risk sentiment is not yet translating into sustained crypto follow-through, while wallet-security events are not immediately impacting BTC on the tape.
Neutral
The news is largely neutral for crypto trading because the two major narratives point in opposite directions and neither clearly changes BTC’s immediate price trajectory.
1) Macro/risk signal fades: Despite a large 17% Kospi and strong chip-stock rebound (Samsung/SK Hynix/TSMC), BTC is “flat” near ~$64k and even gave back an early spike to ~$65.3k within an hour. Historically, when BTC tracks risk assets, strong equity rebounds often translate into follow-through; here, the lack of follow-through resembles periods where BTC consolidates while equities rerate higher.
2) Security headline doesn’t hit the tape: The Coldcard flaw and the drain of ~594 BTC (~$38m) is material, but the article notes it did not visibly move BTC price. This is consistent with prior exchange/wallet incident patterns where on-chain thefts can be absorbed by liquidity without instant repricing—at least until additional details (scope, affected addresses, and remediation timelines) emerge.
Short-term, traders may lean to range-trading or maintain caution, watching whether the macro rebound begins to attract sustained inflows. Long-term, wallet-security risks can influence custody behavior and potentially increase demand for safer key management, but this specific event currently reads more like an operational/security overhang than a direct demand shock. Net effect: neutral.