[Analyst: Bitcoin's Brief Rebound Wiped Out by $92.7M Selling Pressure, $62K Becomes Key Resistance Level] CryptoQuant analyst Axel Adler Jr. stated that since July 7, the Bitcoin futures market has been consistently dominated by sellers. The cumulative volume delta (CVD) shrank nearly 70% within two days, from +$800M to +$230M, while the price dropped from approximately $64,000 to $62,000 during the same period. On July 8, there was a brief buying pulse, with consecutive two-hour buy volumes of +$22M and +$48M, but the price remained almost unchanged near $62,100. Subsequently, a $92.7M wave of selling pressure completely erased the gains within a single hour. The analyst pointed out that while the CVD remains positive, indicating that buyers have maintained a cumulative advantage since the beginning of the month, the rapid contraction and simultaneous price decline suggest that momentum has shifted to the sellers. This is not a panic-driven washout but rather a sustained shift in capital flows.