Bitcoin and crypto markets eyed a recovery from Thursday’s drop despite concerns of another hardware wallet exploit.
Bitcoin (BTC) sought to avoid fresh losses on Friday as crypto markets digested reports of an exploit affecting Ledger hardware wallets.
Data from TradingView showed BTC/USD hovering around the key $82,500 support level on Friday.
After dropping to $80,350 on Thursday, BTC/USD saw fresh buyer interest as rolling 24-hour crypto liquidations passed $1 billion.
The latest data from CoinGlass showed spot price cutting through ask-side liquidity on exchange order books, with that liquidity thickening around $84,000.
US stocks opened higher Friday as technology shares rebounded from selling earlier in the week. The recovery included the tech-heavy Nasdaq Composite Index, which CNBC reported had come under pressure following weaker-than-expected earnings projections from OpenAI.
“The sell-off reflected extreme positioning imbalances that have further to unwind in our view, which is why the whole AI-linked tech stock complex is unlikely to simply stage a sharp, V-shaped rebound,” the publication quoted Adam Crisafulli of Vital Knowledge as commenting.
Crypto markets appeared to brush off reports of funds being stolen from Ledger hardware wallet users. In an X post, Ledger acknowledged the claims and linked them to CryptoBillis, a reseller based in Southeast Asia.
“If you have set up your Ledger device, consider moving assets to a new Ledger signer (with new seed),” it advised.
Crypto hardware wallets have faced increased security scrutiny in recent months after manufacturer Coldcard suffered a multi-phase hack in July and August.
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