$92.7M Bitcoin Sell-Off Erases Buying Pulse Overnight, $62K Becomes Key Resistance

According to CryptoQuant analyst Axel Adler Jr., Bitcoin futures markets have been dominated by sellers since July 7, with cumulative delta volume declining from +$800 million to +$230 million in two days as price fell from around $64,000 to $62,000.

On July 8, a brief buying pulse saw +$22 million and +$48 million inflows over two consecutive hours, but the price held near $62,100 with minimal movement before a $92.7 million sell-off wave within a single hour completely erased the gains. The analyst noted that while cumulative delta remains positive—indicating buyers retained a net advantage since early July—the rapid contraction and synchronized price decline signal momentum has shifted to sellers. This represents ongoing capital flow rotation rather than panic liquidation. The $62,000 area has now shifted from support to resistance.