Bitcoin's recent rebound was short-lived as a $92.7 million sell-off erased gains, according to CryptoQuant analyst Axel Adler Jr. Since July 7, sellers have dominated the Bitcoin futures market, with the cumulative volume delta (CVD) contracting from +$800 million to +$230 million, a nearly 70% decline. The price dropped from approximately $64,000 to $62,000 during this period. On July 8, a brief buying surge added $70 million in two hours, but the price remained stagnant around $62,100 before the sell-off. Adler noted that while CVD remains positive, indicating a cumulative buyer advantage, the rapid contraction and price drop suggest a shift towards seller momentum. The $62,000 level has now become a key resistance point, signaling a potential bearish trend if CVD falls below zero, erasing buyers' advantage.