The cryptocurrency market opened the Asian session on August 3 with a wave of red, as a high-profile security breach and bearish technical signals weighed heavily on major assets. Bitcoin, Solana, Cardano, and XRP each faced distinct pressures, with the entire market shrinking nearly 1% to $2.16 trillion.
The immediate catalyst was a major exploit targeting Coldcard hardware wallets, reportedly the fourth wave of attacks, resulting in the theft of approximately 1,367 Bitcoin – worth roughly $88.6 million. The incident shook confidence in self‑custody, triggering a swift movement of funds: Galaxy Research noted that 39,600 BTC moved from small wallets to exchanges within a single day, a sign of fear driving users toward centralized platforms.
Bitcoin (BTC) slid to $62,520, down about 1.5%, and remained pinned below the $63,000 level. The Relative Strength Index (RSI) at 39.52 confirmed that sellers are in control, while the MACD stayed negative at -261. Support sits at $62,512; a break below could push the price toward $62,000 and then $61,500. On the upside, reclaiming $62,913 would be the first step toward $63,500.
Solana (SOL) struggled to hold above $73, trading at $72.59 with a 1.28% daily loss. The RSI at 44.37 gave sellers a slight edge, and the MACD remained bearish at -0.24. A bullish flag pattern had formed, but the price needs to clear $73–$74 to confirm a breakout. Positive fundamentals included MoneyGram deploying its own validator node and staking SOL, Morgan Stanley launching a spot Solana ETF with a 0.14% fee, and nearly one billion real user transactions processed in a week. However, institutional outflows of $17 million from Solana investment products tempered the optimism.
Cardano (ADA) was stuck in a tight consolidation range between $0.30 and $0.32, trading near $0.31. Bollinger Bands were narrowing, hinting at an imminent breakout. A bullish MACD crossover appeared, but low volume raised doubts. A break above $0.32 could target $0.34, while a drop below $0.30 might lead to $0.28. Pending network upgrades remained an unconfirmed catalyst.
XRP held near $1.066–$1.072, down 1.67%. The RSI of 45.99 indicated a slight seller advantage, and the MACD showed lingering bearish momentum. On‑chain fundamentals were stronger: Ripple’s RLUSD stablecoin surpassed $1.6 billion in market cap, XRP spot ETFs attracted $15 million in weekly inflows (cumulative $775.5 million), and the proposed xrpld v3.3.0 upgrade promised private token balances and batch transactions for institutions.
Despite these pockets of positivity, the Coldcard exploit dominated sentiment. Analysts noted that crypto is moving 63% in lockstep with gold, suggesting a flight to perceived safety. The coming sessions hinge on whether buyers can defend key support levels and absorb the selling pressure driven by security fears.