Bitcoin is pushing toward $64,000, up 1.9% over the past 24 hours, as the market largely ignores the fourth security incident involving Coldcard hardware wallets. Every major token except ether is green on the week, a sign that traders are rotating out of the second-largest crypto and into alternatives. The move comes as Asian equities sell off on renewed AI-trade jitters, reinforcing the narrative that crypto is once again decoupling from traditional risk assets.
The Coldcard sweep: same story, different week
Coldcard, the Bitcoin-focused hardware wallet maker, has been hit with another security incident — the fourth in its history. Details remain sparse, but the company acknowledged the issue earlier this week. The market's reaction has been muted. Bitcoin barely flinched, and trading volumes on major exchanges stayed steady. That's a far cry from previous years when a hardware wallet breach would spark panic. Traders seem to be pricing in that Coldcard's user base is small and that the vulnerability was likely contained before any significant funds were lost.
Why ether is the odd one out
While Bitcoin, Solana, and a handful of altcoins are posting weekly gains, ether is flat to slightly negative. The divergence is unusual. Some point to the ongoing uncertainty around Ethereum's layer-2 scaling roadmap and the lack of a clear catalyst. Others note that ether has been range-bound for weeks, and the current rotation into Bitcoin and smaller caps suggests traders are hunting for momentum elsewhere. Whatever the reason, ether's underperformance is the biggest anomaly in an otherwise green market.
Asian markets weigh on sentiment
The broader macro picture is mixed. Asian equities are selling off as investors reassess the AI trade — the same theme that drove tech stocks higher for much of 2025 and early 2026. The selloff hasn't spilled into crypto yet, but it's a reminder that risk appetite can shift quickly. Bitcoin's resilience so far suggests that crypto holders are either less exposed to the AI narrative or are treating the current dip in stocks as a buying opportunity for digital assets.
The $64,000 level is the immediate resistance to watch. A clean break above it could open the door to retesting the all-time high near $69,000. On the downside, support sits around $60,000. The Coldcard incident appears to be a non-event for price action, but the broader macro environment remains the wildcard. With the Fed's next meeting in September and earnings season winding down, crypto traders are left to trade on technicals and flows. For now, the momentum is on Bitcoin's side.
