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Bitcoin Price Stalls at $62.6K Amid Weakening Spot Demand and ETF Support

Guavy AI Editorial Team Published August 3, 2026

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BTC

Bitcoin's price has been hovering around $62.6K amid concerns over weakening spot demand, according to crypto analyst @glassnode.

This trend is reflected in on-chain metrics, which indicate a defensive stance in derivatives trading and reduced conviction among traders.

However, recent ETF inflows have provided crucial support to the market, countering some of this weakness.

Traders are advised to monitor these dynamics closely as they could signal shifts in market sentiment.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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