Bitcoin pulls back from $64,500 as weak ETF flows, falling open interest cloud outlook

Bitcoin BTC $ 63,458.33 stalled on Tuesday, falling for the first time this month and breaking the longest stretch of gains since March. It had rallied to $64,500, its highest point in more than two weeks, on Monday.

Ether (ETH) tracked the larger cryptocurrency, dropping to $1,770 after hitting a high of $1,830 on Monday.

The July recovery can be attributed to a short-squeeze setup that was identified in late June, which saw heavy short interest despite bitcoin trading at its lowest point since 2024.

Bitcoin and other crypto tokens capitalized on a skew in short positions, recovering from oversold territory and advancing every day since the start of the month.

The total crypto market has grown by 8.4% since July 1, and is now worth $2.16 trillion.

U.S. equities fell in pre-market trading on Tuesday, with Nasdaq 100 index futures losing 0.9% since midnight UTC as the decline from June's record high continues.

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

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