Bitcoin sell-off worth $92.7 million erased buying momentum overnight, with $62K becoming a key resistance level. According to CryptoQuant analyst Axel Adler Jr., the Bitcoin futures market has been dominated by sellers since July 7, with cumulative volume delta dropping from +$800 million to +$230 million in two days, and the price falling from around $64,000 to $62,000. On July 8, a brief buying wave saw inflows of +$22 million and +$48 million over two consecutive hours, but the price remained nearly flat near $62,100. Then, within one hour, a sell-off of $92.7 million occurred, completely erasing the gains. The analyst noted that while the cumulative delta is still positive—indicating buyers have been dominant since early July—the rapid contraction and simultaneous price decline suggest momentum has shifted to sellers. This represents a continuous rotation of capital flows, rather than a panic liquidation. The $62,000 area has now turned from support into resistance.