Axel Adler Jr.: Seller led Bitcoin futures market, $62000 becomes key resistance level

CryptoQuant analyst Axel Adler Jr. stated that since July 7th, the Bitcoin futures market has been dominated by sellers. The cumulative trading volume of CVD contracted from $800 million to $230 million within two days, and the price dropped from approximately $64000 to $62000. On July 8th, the buying pulse recorded $22 million and $48 million buying, but the hourly selling pressure of $92.7 million was erased, and the price remained around $62100. Analysts point out that the contraction rate and price decline of CVD reflect a shift in momentum towards sellers, and the current trend is a continuous shift in capital flow.