Bitcoin moved modestly higher on Tuesday but remained within a narrow trading range. Investors continued to assess Strategy’s latest Bitcoin sales alongside uncertainty surrounding U.S.-Iran negotiations.
Weak corporate earnings also limited risk appetite across financial markets. As a result, cryptocurrencies recorded only moderate gains.
Bitcoin rose 1.9% to $63,749 by 07:13 ET. The world’s largest cryptocurrency briefly climbed above the $64,000 level earlier in the session.
Coinkite Hack Raises Crypto Security Concerns
Market sentiment was also affected by reports of a major security breach involving Canadian cryptocurrency wallet company Coinkite.
According to available data, hackers stole nearly $90 million worth of Bitcoin from cold wallets linked to the company.
Cold wallets are generally considered one of the safest methods of storing cryptocurrencies because they remain offline. Therefore, the reported breach raised fresh concerns about security within the digital asset sector.
Strategy Sells Nearly $105 Million in Bitcoin
Strategy Inc. disclosed that it sold 1,683 Bitcoin for approximately $104.7 million during the previous week.
The transaction marked the company’s third recent Bitcoin sale. Following the latest disposal, Strategy’s total holdings declined to 842,138 Bitcoin as of Tuesday.
The disclosure attracted attention because Strategy remains the largest corporate holder of Bitcoin.
Bitcoin Losses Weigh on Strategy’s Earnings
The latest sales followed Strategy’s second-quarter earnings report, which showed a larger-than-expected loss.
The result was mainly linked to unrealized losses associated with the company’s Bitcoin holdings. Strategy’s average purchase price reportedly stands at $75,419 per coin, significantly above Bitcoin’s current market value.
This difference has placed pressure on the company’s reported financial performance while Bitcoin continues to trade below its average acquisition cost.
Coinbase Results Pressure Crypto Sentiment
Disappointing earnings from cryptocurrency exchange Coinbase also weighed on investor confidence.
The weaker results added to concerns about trading activity and profitability across the wider crypto industry.
However, most major cryptocurrencies still posted modest gains during Tuesday’s session.
Ethereum and Altcoins Move Higher
Ether, the world’s second-largest cryptocurrency, rose 1.5% to $1,867.84. Meanwhile, XRP gained around 1% to $1.0747.
Solana increased 1.6%, while Cardano outperformed the broader market with a gain of 4.5%. BNB advanced approximately 0.8%.
Among major memecoins, Dogecoin climbed 1.4%, while the TRUMP token added 1.9%.
U.S.-Iran Uncertainty Keeps Markets Cautious
Cryptocurrency traders also monitored conflicting reports about negotiations between the United States and Iran.
President Donald Trump said discussions with Tehran were continuing. However, Iranian officials largely denied that formal negotiations had taken place.
Despite the uncertainty, the apparent pause in U.S. military action encouraged some optimism that tensions could ease. Oil prices also fell sharply during the week, helping reduce concerns about an immediate escalation.
For now, Bitcoin remains close to the $64,000 level as investors balance improving geopolitical sentiment against corporate selling, security concerns, and weak industry earnings.
