Bitcoin and Ethereum extended their weekend losses on Monday, slipping even after President Trump said the U.S. had paused a planned round of airstrikes against Iran. A hack that drained nearly $90 million from Coldcard hardware wallets and a $104.7 million Bitcoin sale by Strategy added fresh pressure on prices.
Bitcoin opened at $63,497.25 on Monday, 1.2% higher than Sunday's price. It then reversed course, sliding to $62,643 by 8:54 a.m. ET.
Ethereum followed the same pattern, opening at $1,883.15, up 2.2% from Sunday. It slipped to $1,840.70 by the same hour.
Yet the retreat came despite Trump's Sunday statement that Washington had canceled a major planned weekend attack on Iran, a de-escalation that failed to lift sentiment. Investing.com put the Monday decline at 0.8%, to $62,650.4 by 9:32 a.m. ET. Oil prices, meanwhile, slid as much as 5% on the same news.
Coldcard hack drains nearly $90 million
The setback also reflects a fresh hack targeting Coldcard hardware wallets that rattled the sector. Canadian wallet maker Coinkite Inc. said last week its Coldcard devices had been compromised, with hackers siphoning user funds.
Galaxy Research data showed nearly $90 million of Bitcoin stolen by Monday, from over 4,500 wallets. Cold wallets are usually considered the safest place to store crypto, but a flaw in the Coldcard devices left them open to remote access.
Strategy sells $104.7 million in Bitcoin
Strategy, the Bitcoin treasury company led by Michael Saylor, sold 1,638 bitcoin for roughly $104.7 million between July 27 and Aug. 2, according to an SEC filing Monday, at an average price of $63,957 per coin. The sale brings the firm's holdings down to 843,138 bitcoin, worth about $52.6 billion at current prices. Its cost basis across those holdings stands at roughly $63.5 billion, Saylor said.
The firm used the proceeds to fund distributions on its preferred stock and to repurchase shares of STRC. That sale follows a larger-than-expected second-quarter loss at Strategy and weaker-than-expected earnings at Coinbase last week, as a pivot out of crypto markets battered transaction volumes at the exchange.
Bitcoin remains 43.6% below where it traded a year ago. Its all-time high came at $126,198.07 on Oct. 6, 2025. Ether has fallen a similar 44.5% over the same span.
Sources: Yahoo Personal Finance, Cryptocurrency News
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