{"id":76238,"date":"2026-08-01T17:44:51","date_gmt":"2026-08-01T17:44:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/coldcard-exploit-fuels-market-fear-as-2-bitcoin-forks-loom-ahead\/"},"modified":"2026-08-01T17:44:51","modified_gmt":"2026-08-01T17:44:51","slug":"coldcard-exploit-fuels-market-fear-as-2-bitcoin-forks-loom-ahead","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/coldcard-exploit-fuels-market-fear-as-2-bitcoin-forks-loom-ahead\/","title":{"rendered":"Coldcard Exploit Fuels Market Fear as 2 Bitcoin Forks Loom Ahead"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin traded near $63,000 after a Coldcard hardware wallet hack drained 1,082 BTC on July 30.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Blackrock\u2019s IBIT led $265 million in Bitcoin ETF outflows on July 31.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Miners will decide on BIP-110 near block 961,632 as an eCash fork looms on August 21.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>The world\u2019s largest cryptocurrency traded between roughly $62,300 and $63,100 during early Saturday trading sessions after briefly pushing above $65,000 a day earlier. While <a href=\"https:\/\/www.coinglass.com\/today\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin still finished July up about 7.36%<\/a>, the calendar flip into August quickly erased much of that momentum as sellers regained control.<\/p>\n<h2>The Coldcard Incident Changed the Conversation<\/h2>\n<p>Security stories rarely stay isolated from price action, especially when they involve self-custody. <a href=\"https:\/\/news.bitcoin.com\/featured\/the-coldcard-exploit-explained-who-lost-bitcoin-and-whos-at-risk\/\">The Coldcard incident did exactly that<\/a>. Attackers exploited a long-standing firmware flaw to drain <a href=\"https:\/\/coldcard-watch.vercel.app\" target=\"_blank\" rel=\"noopener noreferrer\">1,128.6633 BTC from over 1,100 wallets<\/a> in a tightly coordinated operation, reminding the market that even trusted hardware can become a source of risk if a vulnerability goes unnoticed for years.<\/p>\n<p> <iframe src=\"https:\/\/markets.bitcoin.com\/crypto\/bitcoin\/embed\" width=\"100%\" style=\"max-height:500px;height:500px;border:none;overflow:hidden;border-radius:4px\" scrolling=\"no\" title=\"bitcoin market data\"><\/iframe> <\/p>\n<p>The response followed a familiar pattern seen after major security events. Coinkite released patched firmware and instructed affected users to generate entirely new wallet seeds rather than simply update their devices. That distinction matters because once a compromised seed exists, installing new software does nothing to restore its security. Migrating funds becomes the only practical solution.<\/p>\n<h2>ETF Outflows Continue to Weigh<\/h2>\n<p>Institutional flows offered little relief. U.S. spot bitcoin exchange-traded funds (ETFs) recorded roughly $265 million in net outflows on July 31, led by Blackrock\u2019s IBIT, while Fidelity\u2019s FBTC and Grayscale\u2019s GBTC also finished the day in negative territory.<\/p>\n<p>ETF flows often shape short-term market psychology more than long-term fundamentals. Consecutive days of redemptions tend to reinforce caution, particularly when price is already drifting lower. Rather than stepping in as buyers, institutional investors have largely remained on the sidelines, leaving bitcoin without one of its strongest sources of demand from earlier this year.<\/p>\n<h2>August Brings 2 Very Different Bitcoin Events<\/h2>\n<p>Beyond price, traders are watching two unrelated developments that could dominate Bitcoin discussions throughout August.<\/p>\n<p><a href=\"https:\/\/news.bitcoin.com\/less-than-2-weeks-left-bitcoins-bip-110-clock-starts-ticking-as-miner-support-creeps-higher-before-showdown\/\">The first is BIP-110, a proposed temporary soft fork<\/a> that would limit certain forms of non-financial data embedded in bitcoin transactions. Miner signaling is expected to begin around Aug. 7, but support remains minimal, making the proposal\u2019s path to activation uncertain. Some believe this fork could cause <a href=\"https:\/\/news.bitcoin.com\/bitcoin-chain-splits-explained-why-every-btc-holder-gets-a-new-11-asset\/\">a blockchain split<\/a>.<\/p>\n<p>The second is Paul Sztorc\u2019s planned <a href=\"https:\/\/news.bitcoin.com\/2-bitcoin-forks-are-coming-in-august-everything-you-need-to-know\/\">eCash hard fork<\/a> around Aug. 21. Unlike BIP-110, the fork does not modify Bitcoin itself. Instead, it creates a separate blockchain that mirrors Bitcoin\u2019s ledger, allowing eligible bitcoin holders to receive an equivalent allocation of the new asset. The remaining uncertainty centers on which exchanges and custodians choose to support distribution.<\/p>\n<p>With market sentiment already at a low ebb, it remains unclear how these developments will shape confidence in the days ahead.<\/p>\n<h2>Seasonal Trends Aren\u2019t Offering Much Help<\/h2>\n<p>August has often been a difficult month for bitcoin, and this year the broader backdrop has done little to improve the outlook. The <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\" target=\"_blank\" rel=\"noopener noreferrer\">Crypto Fear and Greed Index<\/a> remains in \u201cFear\u201d territory, while higher bond yields and weakness across <a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitcoin-mining-and-ai-infra-stocks-rocket-as-shorts-get-burned\/\">artificial intelligence (AI)-related equities<\/a> have reduced investors\u2019 appetite for risk assets more broadly.<\/p>\n<figure id=\"attachment_835906\" aria-describedby=\"caption-attachment-835906\" style=\"width:1600px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-835906\" class=\"wp-caption-text\">Crypto Fear and Greed Index via alternative.me on Aug. 1, 2026.<\/figcaption><\/figure>\n<p>One notable difference from previous selloffs is what has not happened. Bitcoin\u2019s derivatives market has stayed relatively orderly, with open interest holding near $48 billion instead of exploding higher. That typically points to existing positions being unwound rather than aggressive new leveraged bets driving the decline, a healthier dynamic than the liquidations that often accompany sharper corrections.<\/p>\n<h2>What Traders Are Watching Next<\/h2>\n<p>The next technical hurdle <a href=\"https:\/\/markets.bitcoin.com\/crypto\/bitcoin\" target=\"_blank\" rel=\"noopener noreferrer\">remains the $64,000 to $65,000 range<\/a> and higher. Recovering that area would suggest buyers are beginning to absorb the recent wave of negative headlines. Losing the $62,000 level, however, would likely shift attention toward the $58,000 to $60,000 zone, an area that previously attracted meaningful demand earlier this summer.<\/p>\n<p>Over the next several weeks, attention will center on BIP-110 miner signaling beginning around Aug. 7, exchange announcements ahead of the planned eCash fork on Aug. 21, and whether daily ETF flow reports show institutional buyers returning after a prolonged stretch of outflows.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/market-updates\/coldcard-exploit-fuels-market-fear-as-2-bitcoin-forks-loom-ahead\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Bitcoin traded near $63,000 after a Coldcard hardware wallet hack drained 1,082 BTC on July 30. Blackrock\u2019s IBIT led $265 million in Bitcoin ETF outflows on July 31. Miners will decide on BIP-110 near block 961,632 as an eCash fork looms on August 21. The world\u2019s [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":76239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/76238"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=76238"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/76238\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/76239"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=76238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=76238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=76238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}