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Canadian Bitcoin hardware wallet manufacturer Coinkite has issued a warning to users of its Coldcard Mk3 devices. The company advises moving funds from wallets whose seed phrases were generated on the Mk3 with firmware versions 4.0.1 through 5.0.3, released between March 2021 and the final Mk3 update. The newer Mk4, Q, and Mk5 models are not affected. Coinkite recommends users generate a new seed on an unaffected device and transfer funds with caution. This warning coincides with security experts investigating a coordinated sweep of 594.48 BTC (worth approximately $38.3 million) from numerous single-signature wallets. While a Reddit user reported a drained wallet linked to a Coldcard Mk3, no definitive public evidence yet connects the device flaw to these specific thefts. Preliminary analysis by experts suggests the root cause may be a low-entropy random-number generator in certain devices or firmware, potentially creating predictable wallet seeds. One hypothesis is that an attacker, aware of the flaw, used a script to brute-force a limited set of derivation paths, primarily affecting native SegWit addresses and leading to partial drains in some cases. Investigations are ongoing.

The U.S. Department of the Treasury, via OFAC, imposed sanctions on two Iranian companies, Persian Gulf Marine Insurance Company (PGMIC) and Hormuz Safe Marine Services Authority, accusing them of operating a sanctions evasion scheme involving maritime insurance paid for with cryptocurrencies. The action also targeted eight vessels and eight companies allegedly part of Iran's "shadow fleet." OFAC stated that Iranian authorities forced commercial vessels to purchase mandatory insurance for passage through the Strait of Hormuz. The Hormuz Safe platform, launched in May 2026 with involvement from Iran's Ministry of Economy, allowed policy payments in Bitcoin and other cryptocurrencies, which the U.S. claims enabled Iran to generate revenue and circumvent sanctions. U.S. Treasury Secretary Scott Bessent condemned Iran's attempts to "hold global trade hostage" and fund activities of the IRGC. Furthermore, OFAC sanctioned shipping companies and tankers accused of transporting millions of barrels of Iranian oil to China, the UAE, and other destinations despite international restrictions. All designated assets under U.S. jurisdiction are now blocked, and transactions with them by U.S. persons are prohibited. These sanctions come amid reported diplomatic outreach from the U.S. to Iran, which has so far gone unanswered by the IRGC.

A prominent crypto analyst, known as "Killa," has offered a clear perspective against expectations of a major Bitcoin (BTC) crash. With BTC trading around $64,000, the analyst asserts the cryptocurrency has likely found its bottom and a sharp drop to the $36,000-$48,000 range, feared by many investors, is improbable. Analyzing past bear cycles, Killa notes Bitcoin typically forms three major lows, with the latter two being decisive. Following a recent dip to approximately $59,000, BTC formed a minor bullish divergence, and selling pressure proved insufficient to push prices significantly lower. This indicates market strength rather than weakness, with conditions for a major collapse largely absent. The analyst states Bitcoin has now entered a clear accumulation range, viewing the ~$57,000 level as a key lower boundary. While short-term dips below this level may occur, they would not signal a new bear market. Historical trends show prices tend to recover after major lows, and a prolonged, sharp fall to the $36k-$48k range does not align with the current market structure. Killa concludes that if Bitcoin were to initiate a new downtrend toward $40,000, it would likely have happened already. *This is not investment advice.

The Japanese yen recorded its largest daily gain against the US dollar after the USD/JPY pair reversed from a recent high near 164.00. This suggests movements in the yen can impact global financial conditions, including Bitcoin. On the daily chart, the USD/JPY reversal followed a multi-month rally. Intense selling erased several days of gains, pushing the pair below 160.00 before a recovery to around 160.59. Despite signs of demand at lower levels, the failed attempt to hold above recent highs indicates weakening bullish momentum. The yen strengthened by as much as 3%, pulling the dollar down to an intraday low of 158.34. Analysts note the move's scale and unusually high trading volumes resemble past intervention episodes. Market focus is now on the Bank of Japan's signals and interest rate outlook, with hawkish cues potentially supporting further yen strength. A stronger yen could create short-term selling pressure on Bitcoin, particularly if investors unwind carry trades funded by cheap yen borrowings. However, if sustained yen strength lowers Japanese government bond yields and improves global liquidity, it could eventually foster more favorable conditions for risk assets like Bitcoin. Bitcoin's price fell 2.5% to $62,500, which may reflect initial investor selling.

Cryptocurrency analytics platform Santiment shared key insights on Bitcoin and altcoin markets, highlighting significant signals from on-chain data. Analysis shows Bitcoin's 365-day MVRV ratio has fallen to -26%, indicating substantial losses for long-term holders, a level historically associated with market bottom formations and long-term buying opportunities. While short-term MVRV is near breakeven, suggesting no clear directional signal, the annual perspective points to a bottom before bullish cycles. On-chain data reveals divergent behavior: large wallets (10-10,000 BTC) have been accumulating, adding ~18,500 BTC in 10 days, while smaller retail investors continue buying dips. Analysts caution that high retail demand can sometimes create a risk of a final market shakeout or correction. The altcoin market shows a mixed picture. Ethereum's 365-day MVRV is around -33%, but recent monthly gains combined with overly optimistic social sentiment pose a short-term correction risk. XRP is in oversold territory with 30-day and 365-day MVRVs at -57.5% and -45.5% respectively, signaling potential for a strong mid-to-long term rebound. Social activity and optimism are rising for Solana, while investor sentiment remains calmer towards Cardano. Future direction for Bitcoin and altcoins depends not only on on-chain metrics but also on macroeconomic and regulatory developments. The Federal Reserve's interest rate decision and upcoming policy rulings are increasing market volatility expectations, while uncertainty around the U.S. Congressional clarity process continues to pressure pricing. *This is not investment advice.