BTC traded around $63,500 after a six-day rally as Wintermute and Bitfinex flagged weak ETF demand, while K33 said 50% of supply is at a loss.

BTC retreated from a two-week high of $64,500 as falling open interest and weak spot demand cast doubt on the sustainability of July's 8.4% market recovery.

BTC traded around $63,500 after a six-day rally as Wintermute and Bitfinex flagged weak ETF demand, while K33 said 50% of supply is at a loss.