Bitcoin climbed 1.86% to $63,698 on August 4, pushing the total cryptocurrency market cap up 0.97% to $2.17 trillion. The move came despite a reported $100 million hack involving Coldcard hardware wallets, a breach that might have spooked markets in a different environment.
The Coldcard incident
Details of the Coldcard hack remain sparse, but the reported $100 million theft didn't trigger a broad selloff. Bitcoin's price action suggests traders either saw the incident as contained or are more focused on other macro factors. Coldcard, a popular hardware wallet brand among security-conscious users, has not yet issued a public statement on the reported breach.
Altcoin movers
Cardano and Hyperliquid led the altcoin rally on August 4. ADA and HYPE both posted gains that outpaced the broader market, though specific percentages weren't immediately available. The two tokens have been among the more volatile names this week, and today's move extends a pattern of outperformance for select altcoins.
What the market is ignoring
The hack's muted impact stands in contrast to past security incidents, where exchange or wallet breaches often triggered sharp drops. Whether that resilience holds depends on how the Coldcard situation develops — if more details emerge about the scope of the attack, sentiment could shift quickly. For now, the market is looking past it.
