Bitcoin Holds Steady Near $63K Amid Institutional Demand Strength

Bitcoin traded near $63,586 on Tuesday as institutional demand for spot ETFs remained strong despite weak retail interest in the US.

This divergence between institutional and retail investors reflects a maturing market where long-term capital is gaining more weight than short-term sentiment, according to Avinash Shekhar, Co-Founder & CEO of Pi42.

Institutional flows are showing tentative improvement, with US spot Bitcoin ETFs ending the week through July 31 with a net outflow of approximately $61.5 million. However, funds recorded at least $58.7 million of inflows on August 3.

Vikram Subburaj, CEO of Giottus, noted that immediate support lies around $63,000, followed by the recent intraday low near $62,200, due to weak spot demand and cautious derivatives positioning.