ZachXBT Slams Hardware Wallets as Bitcoin Holds Steady After South Korea Rate Hike

Cryptocurrency security and macroeconomic developments remain key concerns for investors. Prominent blockchain investigator ZachXBT sharply questioned the security of hardware wallets designed to guard against risks, prompting the community to reassess the protection offered by cold storage. Meanwhile, Bitcoin's price remains closely tied to central-bank policy, with the Bank of Korea's rate decision and U.S. inflation data serving as key macroeconomic drivers of digital assets and shaping capital allocation among global investors.

Bitcoin held near $65,000 after the Bank of Korea announced a rate hike and the United States released inflation data in July 2026. Bitfinex analysts said on July 16, however, that the rally lacked support from spot buying and was driven primarily by macroeconomic trades. The same day, ZachXBT called hardware wallets “complete garbage” and warned investors about vulnerabilities in asset protection.