Despite market sentiment cooling due to news of large-scale fund outflows linked to the Coldcard hardware wallet vulnerability, Bitcoin is holding steady, defending the key support level near $62.4k. Although trading volume spiked by over 50% following the negative news, the price is maintaining a sideways trend rather than succumbing to a panic-sell-induced crash. Even with short-term moving averages in a bearish alignment on the daily chart—indicating persistent downward pressure—the fact that this zone is holding suggests that institutional ETF inflows are acting as a strong buy wall.

Of course, we cannot entirely rule out the possibility that the current increase in volume is not an absorption of dip buying, but rather a final distribution of holdings before a breakdown of support. If this support test fails and the downtrend intensifies with strong selling pressure, the existing sideways range outlook must be immediately discarded. For now, the top priority is to confirm whether this $62.4k support level is decisively held on a daily closing basis and whether the temporary volume surge triggered by the bad news settles down.