Oil falls over 4% as Trump calls off Iran strike, announces fresh talks
Investing.com-- Bitcoin fell on Monday, extending weekend losses as cryptocurrency markets grappled with a high-profile hack and weak June quarter earnings from major companies in the sector.
Bitcoin fell 1% to $62,829.4 by 02:04 ET (06:04 GMT).
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Optimism over more U.S.-Iran negotiations provided little support, even as oil prices slid up to 5%. U.S. President Donald Trump said more negotiations with Iran were set to occur later on Monday, after Washington canceled a major planned weekend attack on the country.
Coldcard hack results in nearly $90 mln Bitcoin being stolen
Canadian crypto wallet firm Coinkite Inc late last week said its brand of “cold” wallets– Coldcard– had been compromised, and that hackers were siphoning user funds.
Galaxy Research data showed nearly $90 million of Bitcoin had been stolen by Monday, from over 4,500 wallets.
The development was especially unnerving for crypto markets, given that cold wallets are usually considered to be the safest place a trader can store their crypto.
Cold wallets are usually cut off from public networks. But a flaw in the Coldcard devices made them vulnerable to remote access.
Strategy, Coinbase earnings disappoint
Sentiment towards crypto was further quashed by weak second-quarter earnings from major companies Strategy Inc (NASDAQ:MSTR) and Coinbase Global Inc (NASDAQ:COIN) last week.
Strategy reported a substantially larger than expected second-quarter loss, as the company continued to nurse deep losses on its Bitcoin holdings.
Strategy’s losses added to anxiety over the company’s massive Bitcoin pile, given that it recently began offloading some of its holdings to meet mounting capital and debt obligations.
Coinbase also clocked weaker-than-expected quarterly earnings, as an ongoing, widespread pivot out of crypto markets battered transaction volumes for the largest U.S. crypto exchange.
Crypto has been struggling with a prolonged exodus of investor interest in 2026, as sustained losses in Bitcoin, Strategy’s sales, and the increasing popularity of artificial intelligence-linked assets largely overshadowed the industry.
Prolonged risk-aversion, due to the U.S.-Iran war, also weighed on the sector.
Crypto price today: altcoins dither with Bitcoin
Broader crypto prices fell tracking Bitcoin, amid a dearth of directly positive cues for the sector. Crypto also largely lagged broader gains in risk-driven assets after Trump’s comments on Iran.
World no.2 crypto Ether fell 1.2% to $1,856.74, while XRP fell 1.1%.
Solana and Cardano fell 1% and 1.4%, respectively, while BNB fell 0.4%.
Memecoins Dogecoin and $TRUMP fell 1.2%.
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