Bitcoin staged an impressive rebound above $63,000 on Tuesday, August 4, recovering rapidly after dipping to an intraday low near $62,227. The premier digital asset reached an intraday peak of $64,117 before consolidating near $63,545, marking a 24-hour gain of roughly 1.6%. The broader cryptocurrency landscape posted solid advances alongside Bitcoin’s recovery, demonstrating notable market depth in the face of significant supply overhangs.
Tuesday’s upward momentum came despite fresh corporate disclosure from enterprise treasury giant Strategy regarding its third Bitcoin sale of 2026, a fourth suspected wave of security-driven Coldcard hardware wallet migrations, and steady miner supply distributions. While major altcoins like BNB and Dogecoin participated in the daily rally, earlier Asian trading session metrics indicated that Ethereum remained the sole major digital token lingering in negative territory over a seven-day rolling window.
The prompt recovery returned Bitcoin to the middle of the defined consolidation range that has anchored market structure since the steep market decline observed in June. While institutional and spot buyers have consistently defended psychological support around $60,000, overhead supply has repeatedly capped upside attempts between the key $65,000 and $66,500 resistance zones.
Despite the positive price action, momentum indicators across daily charts continue to reflect underlying fragility. The Stochastic RSI remains deep in lower territory with readings hovering around 22 and 14, while the Moving Average Convergence Divergence (MACD) continues to travel below its signal line with a negative histogram. This technical posture indicates that while buyers successfully absorbed immediate market supply, a broader macro trend reversal has yet to receive definitive momentum confirmation.
Macroeconomic conditions provided a mixed background for digital assets on Tuesday. Asian equity indexes displayed uneven price action, while international crude oil prices drifted higher as traders evaluated conflicting diplomatic signals surrounding negotiations between the United States and Iran. Bitcoin’s ability to defend the $63,800 level during the Asian session highlights its growing capacity to absorb localized, crypto-specific supply shocks without bowing to broader global risk-off sentiment.
Strategy Liquidates $104.7M in BTC for Dividend Obligations
A major focus for market participants on Tuesday was a regulatory disclosure from Strategy. In an Aug. 3 filing with the U.S. Securities and Exchange Commission (SEC), Strategy disclosed the sale of 1,638 BTC between July 27 and Aug. 2, generating $104.73 million in net proceeds. The transactions were executed at an average price of $63,957 per coin—notably below the company’s cumulative average acquisition cost of $75,419 across its primary treasury holdings.
Strategy directed $52.4 million of the proceeds toward funding preferred stock dividend payments and allocated the remaining $52.3 million toward repurchases of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). Following the transaction, Strategy retains an absolute balance of 842,138 BTC, acquired for a cumulative aggregate cost of roughly $63.51 billion.
The regulatory filing also detailed $290.6 million raised through at-the-market (ATM) sales of MSTR Class A common stock, with $250 million earmarked to bolster the firm’s US dollar cash reserve to $4.0 billion. The transaction represents Strategy’s third disclosed Bitcoin sale of 2026, operating under an adjusted capital management strategy that explicitly permits asset monetization to meet corporate liquidity requirements, dividend distribution targets, and debt service obligations.
Addressing public discussion surrounding the liquidation, Strategy Executive Chairman Michael Saylor clarified the corporate entity’s distinct fiduciary posture, stating: “Strategy is a public company, not my wallet.” Equity markets absorbed the news calmly, with Strategy (MSTR) shares trading up roughly 1.6% near $94.86, indicating that institutional equity investors viewed the disciplined capital rebalancing as prudent reserve management rather than a distress signal.
Coldcard Security Vulnerability Drives Mass Wallet Migration
Concurrently, blockchain analytics firms tracked a fourth wave of potential wallet sweeps connected to an ongoing security vulnerability involving Coldcard hardware wallets. Alex Thorn, Head of Galaxy Research, identified a fourth transaction cluster moving 448.7 BTC across 709 suspect addresses on Monday. Thorn highlighted that the classification stems from heuristic pattern analysis across public ledger transactions rather than direct device logs or law enforcement confirmation.
When combined with earlier documented movements, the cumulative impact of the suspected Coldcard exploit spans roughly 1,815.75 BTC across 5,294 unique wallet addresses. Device manufacturer Coinkite has confirmed that while updated firmware successfully protects newly generated seed phrases, patched firmware cannot retroactively secure existing seed phrases generated under vulnerable legacy code. Consequently, users holding affected devices are required to generate completely new seed phrases and perform manual transfers of their remaining funds to uncompromised addresses.
Onchain data from CryptoQuant reinforces the narrative that these massive token transfers reflect security migrations rather than outright panic selling or market capitulation. Daily transfer volumes involving amounts under 1 BTC surged to 39,600 BTC on Friday, marking the highest single-day small-denomination transfer volume since the collapse of FTX in November 2022.
Furthermore, Galaxy’s research revealed that affected users are actively utilizing Replace-By-Fee (RBF) mechanics to outbid malicious transactions. RBF enables wallet holders who detect unconfirmed, unauthorized transfers to broadcast replacement transactions with higher network fees, successfully rerouting funds toward secure, newly generated vault addresses before confirmation occurs on the blockchain.
Technical Outlook: $60K Support and $66.5K Resistance Define Next Move
Adding to the dynamic supply environment, onchain analyst Ali Martinez estimated that cryptocurrency mining entities offloaded approximately 1,774 BTC, valued at roughly $112 million, over the past week. While miner liquidations introduce steady sell-side pressure, market analysts view the ongoing absorption of corporate, security, and miner supply as a structural sign of demand resilience.
Martinez noted that a potential retest of the $60,000 support level could serve as a classic bullish setup if it completes the right shoulder of a multi-week inverse head-and-shoulders pattern. Within this chart configuration, the $66,500 level represents the primary breakout neckline. A confirmed daily close above $66,500 would invalidate current bearish momentum signals, opening clear technical pathways toward primary upside targets at $71,000 and $76,000.
However, this bullish chart pattern remains strictly conditional. A decisive breakdown below the pivotal $60,000 support mark would negate the prospective reversal structure, exposing Bitcoin to deeper downside risk toward secondary support near $56,000.
The immediate focus for market participants centers on whether spot buyers can sustain Bitcoin above the $63,000 threshold through the US trading session. Securing a stable base above $63,000 will be necessary to stage a meaningful test of the heavy $65,000 to $66,500 overhead supply zone. Demonstrating a clean breakout through that resistance corridor would offer definitive evidence that global market demand has fully digested recent corporate distributions, miner selling, and hardware migration flows.
Disclaimer: CoinScreamer is an independent media brand owned and operated by NuvexMedia LLC, publishing news, research, and market insights on digital assets and related technologies. NuvexMedia LLC invests in and collaborates with companies across the digital asset, blockchain, and technology sectors. These relationships do not influence CoinScreamer’s editorial coverage, and the publication maintains full editorial independence to provide accurate, timely, and objective information. © 2025 NuvexMedia LLC. All rights reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or other professional advice.
