Bitcoin consolidates near $82.5K as crypto weathers Ledger theft reports

Bitcoin (BTC) sought to avoid fresh losses on Friday as crypto markets digested reports of an exploit affecting Ledger hardware wallets.

Key points:

• Bitcoin rebounded from local lows of $80,350 to reclaim $83,000 at the Wall Street open.
• Crypto markets avoided significant selling pressure following reports of funds being stolen from Ledger hardware wallet users.
• BTC/USD continued to trade around $82,500 as traders looked ahead to the weekly close.

BTC price rebounds to $83,000 despite Ledger theft reports

Data from TradingView showed BTC/USD hovering around the key $82,500 support level on Friday.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

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.

BTC liquidation heatmap. Source: CoinGlass

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.