Bitcoin (BTC) and ether (ETH) are under pressure as the $114 million Coldcard hardware wallet hack raises questions about the safety of self-custody and pushes some holders back to exchanges.
Over the past day, Bitcoin's price has dropped 1.5% to $62,595, while ether has fallen nearly 2% to $1,842.
Analysts note that this incident has impacted sentiment on crypto social media, with numerous small holders reporting losses of long-term holdings.
Derivatives Positioning
- Long-short ratio skews bearish: The crypto long-short futures volume has become more bearish than late last week.
- BTC OI rises: Open interest in BTC futures has reached a one-month high.
- Mixed action in altcoins: ADA, ETH, and BCH are notable OI gainers.
Token Talk
- NEAR's Intents system has crossed $24 billion in lifetime volume.
- NEAR has also launched staking for AI compute.
