Bitcoin recovers above $63K on Tuesday. BTC fell to an intraday low near $62,227 before bouncing.
The asset reached $64,117 before easing toward $63,522. It is about 1.6% higher over 24 hours.
Why Bitcoin recovers above $63K
The rebound came despite fresh selling disclosures. Strategy sold 1,638 BTC last week. Another suspected Coldcard wallet sweep also occurred.
BNB and Dogecoin also moved higher. Ether remained the only major token negative over seven days.
Buyers have repeatedly defended the $60,000 area. Nevertheless, BTC struggles to break above $65,000–$66,500.
Technical indicators still show weak momentum. Stochastic RSI is near 47 and 14. MACD remains below its signal line with a negative histogram. This suggests the bounce hasn’t confirmed a wider reversal.
Strategy sale adds corporate supply
Strategy sold 1,638 BTC between July 27 and August 2. The total proceeds reached $104.73 million. Average sale price was $63,957. This compares to $75,419 average acquisition cost.
The company directed $52.4 million toward preferred dividends. Another $52.3 million funded STRC repurchases. Strategy now holds 842,138 BTC.
The filing also showed $290.6 million in MSTR share proceeds. $250 million added to the USD reserve. This was Strategy’s third disclosed BTC sale of 2026.
Executive Chairman Michael Saylor said: “Strategy is a public company, not my wallet.” This separated corporate decision from his personal position.
Strategy shares traded near $94.86, up about 1.6%. The filing did not trigger an immediate equity selloff.
Coldcard flows look like migration
Galaxy Research linked Monday’s activity to a fourth suspected Coldcard attack. The revised estimate covered 448.7 BTC from 709 possible victim addresses. Thorn called them “likely Coldcard victims.”
Adding the fourth estimate produces roughly 1,815.75 BTC across 5,294 addresses. Coinkite has not confirmed that total.
Coinkite said fixed firmware protects newly generated seeds. Nevertheless, updating a device does not repair vulnerable seeds. Users must generate a completely new seed.
CryptoQuant data supports the custody migration explanation. Transfers below 1 BTC reached 39,600 BTC on Friday. This was the highest daily total since November 2022.
The fourth Coldcard wave also included Replace by Fee transactions. Users detecting an unconfirmed malicious transfer may replace it. This option disappears after confirmation nevertheless.
$60K and $66.5K define next move
Analyst Ali Martinez said a retest of $60,000 “could actually be bullish.” This would complete the right shoulder of a potential inverse head and shoulders pattern. $66,500 is the neckline. A confirmed breakout could target $71,000 and $76,000.
The pattern remains conditional. A decisive loss of $60,000 would weaken the reversal. Attention would return to support near $56,000.
Martinez estimated miners sold about 1,774 BTC over the past week. That is worth roughly $112 million.
The next test is whether Bitcoin can hold above $63,000. It must then clear the $65,000–$66,500 resistance band. Failure to retain $63,000 would expose $62,250 and possibly $60,000.