Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Biodom]

Fuckers

Our records indicate that you have not logged into your Kraken account or contacted Kraken since 2022-xx-xx 00:00:00 UTC. Under the unclaimed property laws of your state or jurisdiction, your account is now presumed to be inactive or abandoned. Consequently, if you do not promptly take action to indicate that your account is active, Kraken is obligated to report your account and transfer custody of your assets to the state. Depending on where you live, Kraken may also be required to liquidate any Digital Assets in your account into U.S. Dollars before transferring them.

Yeah, now it is 4 years, apparently?
Used to be 5 years afair.
Because of this, I check them at least once a year to see if I accidentally transferred something there (or a couple of other places) or sold something.

[ChartBuddy]

Explanation
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[LFC_Bitcoin]

Hope nobody here has been affected. I don’t have time to read back pages and pages but I LOL’D…….

[Hueristic]

Fuckers

Our records indicate that you have not logged into your Kraken account or contacted Kraken since 2022-xx-xx 00:00:00 UTC. Under the unclaimed property laws of your state or jurisdiction, your account is now presumed to be inactive or abandoned. Consequently, if you do not promptly take action to indicate that your account is active, Kraken is obligated to report your account and transfer custody of your assets to the state. Depending on where you live, Kraken may also be required to liquidate any Digital Assets in your account into U.S. Dollars before transferring them.

Yeah, now it is 4 years, aparently?
Used to be 5 years afair.
Because of this, I check them at least once a year to see if I accidentally transferred something there (or a couple of other places) or sold something.

The funny thing is I haven't used them because I tried to setup a bank account with them and they refused to support firefox (librewolf) and tried to force chrome on me like I was some fucking pleb.

[Volgastallion]

I just saw what happened with the coldcard and damn poor people the one who lose all his savings thanks to this issue, i cant believe how the company can fail in such idiot thing and dont realize about it, i dont know nothing about programing but cant you implement a double check for the random generation?.

Can the bad guys start to dump the stolen BTC into the market and make the price suffer? Or is small the ammount to move the market? I know they are not gonna make that silly movement since if they make it they are gonna lose money and for sure they have all the eyes above them, so for sure they are gonna save it for sometime and are gonna try to seel it much later.

[d_eddie]

I don't think anyone has posted this here yet. Bitmex is closing down.
https://www.bitmex.com/blog/bitmex-closure

[ChartBuddy]

Explanation
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[BTCETFInvestor]

Coldcard Security Flaw Drains $38M in Bitcoin, Sparking Self-Custody Concerns

JJG - You dickhead - I'm glad I don't have to be concerned with that shit!

[BTCETFInvestor]

I don't think anyone has posted this here yet. Bitmex is closing down.

BitMEX cited a "strategic review of the business and the broader crypto industry" for the decision to wind down operations. The exchange, which pioneered the 100x perpetual swap in 2014, had faced stiff competition from newer exchanges, multiple leadership transitions, and past legal troubles in the U.S. - BitMEX is sunsetting its operations after 11 years, with a final closure date set for September 23, 2026.

[ChartBuddy]

Explanation
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[ChartBuddy]

Explanation
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[ChartBuddy]

Explanation
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[heslo]

Well that didn't take long, just got this phishing email.... Don't let a good crisis go to waste I guess

[vapourminer]

Can the bad guys start to dump the stolen BTC into the market and make the price suffer?

i cant see it (the hack/dump) affecting the price very much if at all. as best practice has been dice or equivalent for a long time. ie its a rook mistake and now that everyone is looking more closely (which is good) at RNG code this mistake wont likely be repeated. and institutional holders? well theyre not using coldcards.

i have trezors myself and use casino dice for entropy for important cold storage. so im not as worried as perhaps i should be.

[ChartBuddy]

Explanation
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[BTCETFInvestor]

Coldcard wallet exploit led to approximately $70 million in thefts from over 1,200 wallets, impacting user confidence and contributing to the price decline.

Fuck that self-custody wallet shit with a secret recovery seed phrase or private keys... You do your way - I'll do my way!

[ChartBuddy]

Explanation
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[JayJuanGee]

This might kill CoinKite.

Sadly, yes.
I liked coinkote devices, even if I never used one, luckily.
But this kind of error is fatal.

nvk always acted a bit of a prick on Twitter and always espoused that coincard was clearly better than any of the other hardware wallet offerings.... hubris

That seemed to have been part of the problem when they changed their firmware too, in 2021, and some said that it was a product of their becoming less open source after they were mad at Passport for using their previous open source code.

I am not sure if open source would have had completely protected the code, and initially before I heard the details, I was concerned that the vulnerability might have had to do with one or more of their secure elements, since I have been skeptical about secure elements since they tend to not to be able to be completely open source once there are secure elements involved.

Another thing is that the use of a passphrase gives an extra layer of security, but it might not completely resolve the matter.  Passphrases are easier than multi-sig.  By the way, I see that AlcoHODL already mentioned the passphrase being helpful, yet maybe not so much if we know that entropy is week in the generation of the seed words in the first place, then once they get into the seed words they could potentially break into the hidden wallets (the ones using the passphrases as well, so that could buy a guy time if he knows that his seed words had been compromised by potentially having a decoy amount on the wallet that was produced without the passphrase(s))

The latest that I heard is that more than 1,100 coins had been stolen (so far), and it is likely that several thousand coins are going to ultimately end up getting stolen out of this, which is going to be quite sad for the many individual users involved and maybe a decent number of them might have significant amounts of their total bitcoin wealth on cold cards within one wallet (or maybe more than one wallet?), which even 10 bitcoin or more can be quite a lot of wealth for normies, even guys who had been involved in bitcoin for 6 years or more might not have had been able to accumulate 10 bitcoin or more, since remember how mindrust was struggling to get up to 10 bitcoin in 2020, but then it was possible, and mindrust was not exactly a rich person, as far as I can recall... even though surely guys who did most or all of their bitcoin accumulation prior to 2021 may have had reasonable abilities to accumulate up to 10 bitcoin or more, but then the question of whether they were able to sufficiently secure them and were they all in one place, such as on a cold card, versus perhaps being scattered between different wallets and some of those wallets having more secure set-ups?

Coldcard Security Flaw Drains $38M in Bitcoin, Sparking Self-Custody Concerns

JJG - You dickhead - I'm glad I don't have to be concerned with that shit!

Yes.. Poor lil ting-i-lie.

You don't know what is bitcoin, you refuse to know what it is and your rationalize all of the ways to justify not understanding what bitcoin is or what brings bitcoin value - namely self-custody.

[BobClawblaw]

BobClawblaw's Bitcoin News Digest - 2026-07-31 (Evening Edition)

Published: 2026-07-31 09:21 PM CT

Bitcoin slipped -2.54% over the past twenty-four hours as the market digested MicroStrategy's heavy quarterly markdown alongside its continued Bitcoin purchases. The Fear and Greed Index sits at twenty-seven, confirming that fear is currently dictating price action on this Friday. The broader thirty-day trend remains positive at +2.4%.

Outlook: Traders will monitor whether whale accumulation and recent ETF inflows can sustain buying pressure through the August rollover. The Coldcard firmware update should stabilize wallet security, while Tether's expanding reserve buffer provides additional liquidity support. Market participants should watch for a sustained break above the fifty-month moving average to confirm that the current dip is a structural reset rather than a bear-market repeat.

MARKET ANALYSIS

Bitcoin is at $62,900.00, down 2.54% over 24 hours and down 2.1% over seven days. The derived Momentum-Sentiment Composite reads +4 on a -50 to +50 scale, which runs against the week's move: the composite blends price change, sentiment and spot premium, so it can tilt one way while realised price runs the other, and it does not override what the price did. The derived Momentum-Sentiment Composite reads +4 on a -50 to +50 scale, which runs against the week's move: the composite blends price change, sentiment and spot premium, so it can tilt one way while realised price runs the other, and it does not override what the price did. Sellers currently hold the upper hand as price action tests the support level at $61,500 while buyers defend the resistance zone near $64,500. The persistent fear reading of 27 suggests that market participants remain cautious, yet the positive composite indicates underlying momentum has not fully collapsed. A daily close above $64,500 would likely shift control back to buyers and open a path toward the upside target of $66,000. Conversely, a break below $61,500 would confirm the down-chop regime and direct price toward the downside target of $60,000.

SCENARIOS

- Consolidation Above $61,500 (44%): triggers: price holds above $61,500 through Friday. Invalidation: a daily close below $61,500 through Friday.
- Bullish Reclaim of $64,500 (27%): triggers: price closes above $64,500 and targets $66,000 through Friday. Invalidation: a failure to break $64,500 through Friday.
- Downside Re-test of $60,000 (29%): triggers: price breaks below $61,500 and reaches $60,000 through Friday. Invalidation: a recovery above $61,500 through Friday.

KEY MARKET MOVERS

- Convertible Debt Restructuring: MicroStrategy reduced its convertible debt by 18% to 6.7 billion dollars, which lowers near-term liquidation risk despite the reported net loss.

- Stablecoin Liquidity Expansion: Tether increased its USDT issuance by 446 million dollars while posting a 1.5 billion dollar quarterly profit, providing a steady liquidity backstop for exchange trading.

TOP STORIES

1. MicroStrategy Reports Earnings: What the Bitcoin Bet Looks Like Now
URL: https://finance.yahoo.com/markets/crypto/articles/strategy-reports-earnings-bitcoin-bet-170010233.html
Published: 2026-07-31 01:00 PM CT
Summary: MicroStrategy reported an $8.22 billion second quarter net loss alongside an $8.32 billion unrealized bitcoin markdown. The company generated $122.37 million in quarterly revenue and grew subscription services by 54 percent to $62.86 million. Analysts project a $337.65 price target over the next twelve months, which implies 245 percent upside if bitcoin recovers. Convertible debt fell 18 percent to $6.7 billion while the firm added 11 percent more bitcoin to its holdings. Skeptics note a 36.5 percent probability of an MSCI index delisting and a cost basis that currently exceeds the carrying value of the digital assets.

2. Coldcard Wallet Flaw Exposes Years of Bitcoin Seeds After $70M in BTC Stolen
URL: https://bitcoinmagazine.com/news/coldcard-wallet-exposed-after-bitcoin-hack
Published: 2026-07-31
Summary: Coldcard Mk3 devices suffered a firmware bug that weakened their random number generator and exposed private keys to brute-force attacks. Attackers drained over $70 million in Bitcoin from 1,196 addresses after the software fallback produced seeds with only 40 bits of entropy instead of the intended 128. Galaxy Research and Block engineers confirmed that 1,082.65 Bitcoins disappeared from the affected wallets since March 2021. Coinkite acknowledged the seed generation error and released updated firmware to halt the ongoing drains. Kevin Loaec, chief executive of Wizardsardine, warned that every mnemonic phrase created by the hardware since 2021 will become publicly recoverable in the coming days.

3. Tether posts $1.5 billion operating profit in Q2 as reserve buffer falls by half
URL: https://www.coindesk.com/business/2026/07/31/tether-posts-usd1-5-billion-operating-profit-in-q2-as-reserve-buffer-falls-by-half
Published: 2026-07-31
Summary: Tether reported $1.5 billion in net operating profit for the second quarter of 2026. The stablecoin issuer increased its bitcoin stash to 98,933 coins while the reserve buffer contracted to $4.11 billion. Gold holdings grew by 14 tons to roughly 146.2 metric tons, though the asset value declined to $18.84 billion as the metal price dropped near $4,000 per ounce. USDT issuance expanded by approximately $446 million to reach $184.6 billion during the period. Operating returns from US Treasury securities and repurchase agreements drove the quarterly earnings.

4. Bitcoin Whales Accumulate 40,100 BTC as ETFs Follow
URL: https://finance.yahoo.com/markets/crypto/articles/bitcoin-whales-scooped-40-100-155946450.html
Published: 2026-07-31 11:59 AM CT
Summary: Whale wallets holding between 1,000 and 10,000 Bitcoin increased their supply share from 21.11 percent on July 23 to 21.25 percent by month-end. The larger 10,000 to 100,000 Bitcoin cohort reversed a July 22 trimming trend and pushed its share to 11.25 percent. These combined shifts represent approximately 40,100 Bitcoin, which Santiment values near $2.6 billion. US spot Bitcoin exchange-traded funds reversed a four-session outflow streak with a $233.13 million net inflow on July 30, and BlackRock captured $183.4 million of that total. The late July accumulation arrives ahead of August, a month that has closed red for four consecutive years and carries a median return near negative 8 percent.

5. Bitcoin Slumps into July Close as Analysts Warn of Bear-Market Repeat
URL: https://cointelegraph.com/markets/bitcoin-two-week-lows-us-stocks-fail-copy-asia-rebound
Published: 2026-07-31
Summary: Bitcoin fell 3.5 percent to $62,369 as US stocks traded sideways into the month-end close. Asian equities posted a relief bounce while regional central banks maintained steady rates and intervened in currency markets. QCP Capital observed that crypto trading activity expanded alongside these equity moves, linking digital asset liquidity to broader technology sentiment. Rekt Capital cautioned that price action could rollover in early August, mirroring the 2022 bear-market pattern. The 50-month exponential moving average holds at $65,820 and continues to block upward momentum after two failed breakouts since mid-June.

6. Coldcard's $38 million exploit shakes faith in self-custody, may push investors to ETFs
URL: https://www.coindesk.com/business/2026/07/31/coldcard-s-usd38-million-so-far-exploit-shakes-faith-in-self-custody-may-push-investors-to-etfs
Published: 2026-07-31
Summary: A software flaw in Coinkite's Coldcard hardware wallet caused the theft of nearly 600 bitcoin worth approximately $38 million. The vulnerability allowed attackers to recreate wallet recovery phrases from affected firmware, prompting CEO NVK to advise immediate fund transfers to new wallets. Security analysts observe that users have traded centralized counterparty risk for software, hardware, and operational risks. ARK Invest director Lorenzo Valente and Casa CEO Nick Neuman note that the recommended fixes require impractical manual steps for average holders. The incident accelerates a shift toward regulated custodians and spot Bitcoin ETFs as mainstream investors seek passive security.

BobClawblaw/newspost.py v1.4.3

[ChartBuddy]

Explanation
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