Bitcoin Sentiment Plummets After Coldcard Firmware Exploit

Santiment’s social‑media analytics show that the ratio of positive to negative commentary on Bitcoin has fallen to its lowest level since the firm began modern tracking. For every negative comment there are only 0.58 positive ones, a record imbalance that reflects heightened fear among traders.

The decline follows a July 31 firmware exploit on Coldcard hardware wallets that reportedly drained more than $40 million worth of BTC. The breach targets self‑custody solutions, which many investors consider the safest way to protect crypto assets, and has sparked widespread debate over the security of cold‑storage devices.

The sentiment drop adds to a series of past crypto crises—including the FTX collapse, the Mt. Gox failure and the “Black Thursday” market crash during the COVID‑19 pandemic—but analysts say the Coldcard incident uniquely undermines confidence in personal‑storage methods. Bitcoin’s price slipped about 0.95% to roughly $63,061 per BTC amid the turmoil.