Investing.com-- Bitcoin gained slightly on Tuesday, remaining pinned in a tight trading range as top corporate holder Strategy disclosed it had sold more of its holdings in recent weeks.
Broader caution over mixed signals on U.S.-Iran negotiations and a swathe of weak corporate earnings also kept cryptocurrency markets moving in tight ranges.
Bitcoin rose 1.9% to $63,749.1 by 07:13 ET (11:13 GMT). The world’s largest crypto briefly crossed $64,000 earlier in the day.
The world’s largest crypto was spooked by a recent high-profile hack of Canadian crypto wallet firm Coinkite’s cold wallets. Cold wallets are usually considered to be the safest place a trader can store their coins, with the hack resulting in nearly $90 million of Bitcoin being stolen, data showed.
Strategy Inc (NASDAQ:MSTR) disclosed on Monday it had sold 1,683 Bitcoin for about $104.7 million last week.
The sales marked the third such move by the Bitcoin treasury, bringing its holdings down to 842,138 coins as of Tuesday.
The sales were disclosed just days after Strategy released a massive, bigger-than-expected loss in its second quarter earnings. The loss stemmed chiefly from unrealized losses on Strategy’s Bitcoin holdings, given that its average purchase price stands at $75,419 per coin, well above Bitcoin’s current spot price.
Underwhelming earnings from crypto exchange Coinbase Global Inc (NASDAQ:COIN) also dented sentiment towards the sector.
Broader crypto prices rose slightly on Tuesday amid a few positive cues for the sector.
World no.2 crypto Ether rose 1.5% to $1,867.84, while XRP climbed 1% to $1.0747.
Solana rose 1.6%, while Cardano rallied 4.5%. BNB added 0.8%.
Memecoins Dogecoin and $TRUMP advanced 1.4% and 1.9%, respectively.
Markets parsed conflicting signals on the U.S.-Iran conflict, as President Donald Trump asserted that talks with Iran were ongoing, while Tehran largely denied any negotiations had taken place.
Still, the U.S. appeared to have paused its military hostilities against Iran, spurring some optimism over an end to the conflict. Oil prices fell sharply this week.
Vahid Karaahmetovic contributed to this report.
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