Bitcoin traded largely unchanged near the $64,000 level at the start of the Wall Street session on Wednesday, showing little follow-through despite a broad risk-on push in traditional markets. The muted action stood in contrast to gold’s renewed strength, as the precious metal climbed to its highest levels in about six weeks. While US equities continued to build on recent record highs, investors appear to be treating Bitcoin more cautiously—at least for now—amid signals that have to line up before a durable rebound can take hold. Key takeaways BTC held steady around $64,000 as gold rose 2.8% to $4,213 per ounce, its highest since June 22. Gold’s strength has been linked to Chinese demand, including reported inflows into China-based gold-backed ETFs. US stocks maintained momentum, with the S&P 500 reaching 7,793 and a majority of constituents trading above their 50-day moving average. Bitcoin’s recovery still appears contingent on multiple factors, including spot Bitcoin ETF...

Coldcard has disclosed an entropy-generation flaw that affected multiple versions of its hardware wallets, prompting firmware updates and a fund-migration warning for users. The issue, first raised by Coinkite on July 31, has since been linked by Galaxy Digital researchers to thefts exceeding 1,596 BTC—reported as at least $100 million—via coordinated attacks. The incident is a reminder that even long-established hardware wallets can fail at the most foundational step of self-custody: producing the randomness used to generate private keys. It has also reignited a broader debate in the industry over how wallets prove to users—technically and practically—that their entropy sources remain secure in production. Key takeaways Coldcard attributed the problem to a specific fallback path in seed generation that could produce weak entropy on-device firmware, affecting certain firmware versions. Galaxy Digital researchers say attackers exploited the weakness to steal more than 1,596 BTC thr...

Spot Bitcoin ETFs in the United States continued drawing attention from investors, posting net inflows of $211.5 million on Tuesday, after $170 million of inflows the prior day, according to SoSoValue data. The renewed demand comes as a high-profile Coldcard hardware wallet incident is prompting fresh debate over how safely digital assets are protected—especially in comparison with regulated, institutional custody. The inflow rebound also aligns with early reassessment of the potential impact of the Coldcard hack. Galaxy Research has estimated the incident could have affected up to 7,300 addresses and may have led to roughly $130 million in suspected Bitcoin losses for users of the hardware wallet, based on its own analysis shared on social media. Key takeaways SoSoValue reports spot Bitcoin ETFs pulled in $170 million on Monday and $211.5 million on Tuesday, signaling a return of daily demand. BlackRock’s iShares Bitcoin Trust (IBIT) led the recovery with $111 million in inflows o...

Bitcoin’s on-chain “capitulation” phase has stretched to its longest stretch since the aftermath of the FTX collapse, according to Glassnode. In a Monday update, the firm pointed to its composite cycle-tracking framework showing that a large share of Bitcoin price-related indicators has remained in its most defensive, low-conviction stage through 2026. The key nuance is that, while conditions resemble late-cycle stress, Glassnode’s heatmap readings have not yet fully matched the deepest “floor” signatures that appeared during earlier bear-market bottoms. At the same time, Glassnode’s latest Market Pulse report suggested that on-chain activity has strengthened—an important counterpoint for investors weighing whether capitulation is finally giving way to stabilization. Key takeaways Glassnode’s “Bitcoin Cycle Position Heatmap” shows 45 tracked BTC price metrics have been in the longest capitulation phase since late 2022’s FTX fallout. Rafael Schultze-Kraft said the current period sit...

Bitwise chief investment officer Matt Hougan says the failure of the CLARITY Act to advance this week would leave the bill effectively stalled, but it would not derail the broader crypto industry’s momentum. In a Wednesday blog post, Hougan argued that even if lawmakers miss the Senate’s immediate timetable, crypto regulation will still progress through existing frameworks and agency action—while Congress retains the option to package the bill into broader end-of-year legislation. Key takeaways Hougan called the CLARITY Act “walking dead” if it misses the current push, not permanently defeated. The Senate faces an Aug. 5 deadline to advance the bill before the summer recess. Probabilities for CLARITY passing this year have fallen sharply in recent months, according to market-based forecasts. If CLARITY fails, Hougan expects reliance on the SEC-CFTC joint interpretation from March, which treats Bitcoin and other assets as digital commodities. Regulators’ interpretation is not ...

Arthur Hayes, the former co-founder of BitMEX, is warning that today’s surge in AI infrastructure spending could sow the seeds of a renewed credit crunch—one he believes may ultimately send Bitcoin to highly elevated levels. In a Tuesday blog post, Hayes argued that the boom is being treated by investors as a high-growth technology earnings story, when he views it more like leveraged real estate. He expects lenders to fund aggressive data-center and power buildouts, only for a slowdown in AI-related capital expenditure to reveal weaker borrowers. From there, Hayes suggested, a government liquidity response could reintroduce significant risk assets into the broader market, with Bitcoin potentially rallying far beyond current ranges. Key takeaways Hayes frames AI infrastructure expansion as a “credit story” rather than an “earnings story,” drawing a parallel to the 2008-style credit cycle. He expects banks to finance data-center construction and believes the exposure will become clea...

Bitwise chief investment officer Matt Hougan says the crypto industry will not stall if the U.S. Senate fails to advance the CLARITY Act this week—even as prospects for passage this year continue to dim and lawmakers face a tight calendar. In a Wednesday blog post, Hougan argued that while many supporters view the current push as make-or-break, Washington’s track record suggests the industry is unlikely to “go back in the bottle.” Instead, he framed the outcome as a delay to legislative clarity rather than an end to regulatory progress. Key takeaways Bitwise’s Matt Hougan says a CLARITY Act failure would leave the bill “walking dead,” but not permanently defeated. Market-based odds for CLARITY signing this year have fallen significantly, according to Galaxy Research and Polymarket. Hougan expects the SEC-CFTC’s March joint interpretation on crypto market structure to remain the near-term fallback. Regulators can issue rules without legislation, but many lawyers warn the framewo...

Crypto security leaders are grappling with a growing mismatch: attackers increasingly benefit from cutting-edge, AI-assisted capabilities, while many major crypto firms still lack direct access to the most powerful “frontier” cyber models used for security testing and code hardening. In June, Coinbase said it had secured access to Anthropic’s restricted Mythos model, and Zcash founder Zooko Wilcox said Anthropic used Mythos to help audit the Zcash protocol at the request of Shielded Labs. Yet other large players, including Binance, have publicly indicated they have not been able to obtain similar access—highlighting an emerging “security divide” across the industry. Key takeaways Major crypto firms have uneven access to restricted frontier cyber models like Anthropic’s Mythos, leaving some with fewer defensive tools than others. Executives argue gating advanced models is initially necessary because attackers may adopt new capabilities faster than defenders. As publicly available ...

A former FBI supervisory agent, Patrick Steven Yaroch, has been charged with abusing internal access to obtain credentials for cryptocurrency wallets tied to an adversarial country and then using those funds to transfer value to his own crypto accounts. Prosecutors say Yaroch used the access to conduct unauthorized transfers totaling roughly $1 million in digital assets across late 2024 and early 2025. According to a Saturday court filing in the U.S. District Court for the Eastern District of Virginia, Yaroch later admitted to 10 unauthorized transfers involving an estimated total of about $1 million. Prosecutors also allege that some of the stolen crypto was deposited into Suilend to earn yield. Key takeaways Patrick Steven Yaroch allegedly used FBI internal systems to access credentials for cryptocurrency wallets linked to an adversarial country. The admitted unauthorized activity included 10 transfers between late 2024 and early 2025, with an estimated total value of around $1 m...

Bitcoin mining companies with existing operations in Texas are likely to face limited direct disruption from a new state-level pause on certain data center approvals, according to Bernstein analysts. The move centers on heightened scrutiny of how quickly new data center projects are being lined up to connect to Texas’ power grid. Governor Greg Abbott ordered the Public Utility Commission of Texas (PUCT) and the Electric Reliability Council of Texas (ERCOT) to conduct an audit of data centers seeking to connect to the grid, The Texas Tribune reported. Bernstein said many Texas miners are already covered by electric capacity agreements that have been approved, which could reduce near-term operational risk. Key takeaways Bernstein expects most Texas-based Bitcoin miners to be minimally affected because many are contracted for approved power capacity. The audit and moratorium are expected to slow or throttle speculative data center “pipeline” projects, potentially increasing the value ...

Bitdeer, a publicly traded Bitcoin mining and infrastructure firm, has agreed to a 16-year data center lease that could be worth up to $4.7 billion, tying its next phase of growth to artificial intelligence (AI) and high-performance computing capacity. The deal highlights a broader shift in the crypto mining industry: companies built around energy and compute are increasingly positioning themselves as AI data center providers as demand for GPU-based workloads rises. Under the agreement, Bitdeer will supply 121 megawatts (MW) of IT capacity at its Tydal, Norway AI data center. The facility is expected to be configured for Nvidia GPU-based AI workloads, though Bitdeer did not publicly identify the tenant beyond describing it as a subsidiary of Volta Infra. Key takeaways Bitdeer signed a 16-year lease for up to $4.7 billion to secure AI/high-performance computing data center capacity. The agreement covers 121 MW of IT capacity at Bitdeer’s Tydal, Norway facility, configured for Nvidia...

Bitcoin miner Bitdeer has secured a major data center lease aimed at artificial intelligence and high-performance computing, a move that highlights how mining firms are increasingly positioning their power and infrastructure assets for the AI boom. The company says it has signed a 16-year agreement potentially worth up to $4.7 billion to make room for 121 megawatts of IT capacity at an AI data center in Tydal, Norway . While Bitdeer is best known for operating and expanding its Bitcoin mining footprint, this deal shows a broader shift: investors are watching how miners can diversify revenue beyond hash-rate economics—especially as demand for GPU-based computing grows across the AI sector. Key takeaways Bitdeer signed a 16-year AI/HPC data center lease worth up to $4.7 billion . The agreement covers 121 MW of IT capacity at Bitdeer’s Tydal, Norway facility configured for Nvidia GPU workloads. The tenant is identified only as a Volta Infra subsidiary ; Bloomberg reported Volta...

Bitcoin pushed to fresh August highs as hopes that the Strait of Hormuz could reopen calmed broader energy-market fears and lifted risk assets into Tuesday’s Wall Street open. While equities surged, crypto’s rally stayed more controlled—yet on-chain data suggested investors were accumulating rather than chasing. TradingView data showed BTC/USD rising to $64,176 on Bitstamp, posting maximum daily gains of roughly 1% as market attention focused on US-Iran developments, oil price moves, and how those dynamics could shape expectations for the Federal Reserve. Key takeaways Bitcoin extended gains toward $64,000 on Tuesday, with TradingView marking a peak around $64,176 on Bitstamp. US-Iran reopening signals for the Strait of Hormuz pushed oil prices lower; WTI and Brent were down about 4.8% and 4.6%, respectively. BTC traded between key moving averages on the hourly view, with the 21-day SMA near $64,388 acting as a near-term ceiling. CryptoQuant reported “strong accumulation,” poin...

Galaxy Digital’s research team says the Coldcard wallet exploit has been used by at least 15 different attackers, based on new victim reports submitted after the incident. In remarks shared this week, Alex Thorn, head of research at Galaxy Digital, suggested that these additional reports helped identify variants that might otherwise have remained hidden. Thorn also indicated that losses tied to the exploit have risen as investigators mapped multiple waves of activity. Galaxy Research estimates the confirmed thefts total about $100 million across three waves, with an additional suspected fourth wave that could lift the figure to roughly $130 million in Bitcoin. Key takeaways Galaxy Digital reports at least 15 distinct attackers behind the Coldcard exploitation, based on newly received victim accounts. Galaxy Research estimates confirmed losses at about $100 million across three attack waves, with a potential fourth wave raising the estimate to ~$130 million. Security debate is ret...