Bitcoin Holds Near $82.5K Despite Wallet Hack Fears

Bitcoin is trying to recover after a recent dip, staying close to the important $82,500 mark on Friday — even as worries about a crypto wallet hack spread.

Bitcoin (BTC) is the world's largest cryptocurrency (a type of digital money that exists only online). After falling to around $80,350 on Thursday, it bounced back as buyers stepped in.

Here are the key numbers:

• Bitcoin price: hovering near $82,500
• Thursday's low: $80,350
• Liquidations in 24 hours: over $1 billion (this is when traders who borrowed money to bet on prices are forced to close their positions at a loss)
• Expected trading range: between $81,300 and $86,500

What's the wallet scare about? A company called Ledger makes "hardware wallets" — physical devices (like a USB stick) that store your crypto safely offline, away from hackers. Reports surfaced that some users had funds stolen. Ledger admitted the problem and blamed a reseller in Southeast Asia called CryptoBillis. The company advised affected users to move their money to a new device with a fresh "seed" (a secret recovery code that acts like a master password).

This isn't the first scare. Another wallet maker, Coldcard, suffered a major hack earlier in the year.

Despite the fear, crypto prices stayed calm. Markets were also helped by a recovery in US tech stocks, including the Nasdaq (a stock market index tracking big technology companies), which had dropped earlier in the week after disappointing news from AI firm OpenAI.

Looking ahead, traders are watching October 14, when fresh US inflation data (called CPI, which measures how fast prices rise) is released. Experts at Bitfinex expect Bitcoin to trade sideways — staying in a range — until then.

Bottom line: Bitcoin is holding steady in a tense moment, shrugging off hacking fears while waiting for important economic news that could decide its next big move.

This is an AI-generated summary. Read the original article at: https://cointelegraph.com/markets/bitcoin-consolidates-crypto-weathers-ledger-theft-reports?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound