Bitcoin has extended its midday decline, sliding 3.29% to $62,601.12, which dragged the proxy vehicle Strive, Inc. (ASST) down 7.11% to $11.09 heading into the final hours of Friday's session.
📉 Breakdown of the Afternoon Selloff
- Divergent Weakness: Bitcoin dropped from its morning consolidation levels of $63,800 down to $62,601.12. It is decoupling entirely from a green Nasdaq as traders brace for an August pullback and actively hedge against a sub-$60,000 drop.
- ASST Follows Suit: Due to its corporate strategy prioritizing a debt-free treasury of nearly 20,000 BTC, Strive's equity is mirroring the coin’s drop. Shares are pinned near their structural intraday low of $10.97.
- Wallet Exploitation Sentiment: Heavy negative sentiment hit the crypto space following reports that a structural hardware wallet vulnerability allowed malicious actors to drain roughly 594 BTC ($38 million) across 500 individual addresses earlier today.
Let me know if you would like me to unpack the details of the Coldcard hardware wallet vulnerability or pull up technical support levels for Strategy (MSTR) as it navigates the same macro slide.
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