Why was Bitcoin down on Aug 1, 2026, 10:28 AM UTC?

Bitcoin is down 1.16% over 24 hours with minimal intraday movement (±0.09% hourly), likely reflecting a mix of factors: the Coldcard exploit news ($70M loss) may be dampening sentiment around self-custody security, while analysts note "forced-selling" from July has been exhausted—suggesting stabilization rather than directional conviction. The modest decline appears consistent with the "choppy" August environment mentioned, though no single news item clearly explains the specific price action today.