Bitcoin: Slips to $62.6k on Weak Spot Demand

Bitcoin has slipped to $62.6k as spot demand remains weak and derivatives stay defensive, according to Glassnode data released August 3, 2026.

Stronger on-chain activity, resilient holders and Bitcoin ETF inflows historical impact on spot demand continue to offer a floor, yet conviction stays muted in the current cycle.

On the 4h chart BTC trades at $63341.28 inside a bearish structure with EMA50 at $63686.35 and EMA200 at $63712.11 acting as overhead resistance; MACD shows a bullish golden cross at -242.41 while RSI sits neutral at 49.83, suggesting price may test upper Bollinger resistance near $63770.3 before any retracement toward lower band support at $62366.68.