We’re seeing some interesting order flow data building behind this $BTC range. At the July 1 lows, the spot order book was heavily tilted toward sellers. Since then, that imbalance has almost completely disappeared. Buy-side liquidity has gradually rebuilt beneath price, even as BTC continues seeing deeper pullbacks throughout the range. You can clearly see the shift through the Bids & Asks Delta, which has recovered from around negative 40B back toward neutral. We’ve already seen what happens when this indicator moves in the opposite direction. The last major rally into $83K began exhausting as the delta collapsed, showing asks taking control while bid support disappeared. BTC then moved 30% lower. Right now, we’re seeing the inverse. Obviously, I don’t think a move of that size is coming to the upside. But if $62.5K continues to hold and the delta keeps pushing higher, I think BTC at least makes another attempt at the range highs. If the delta begins dumping again while support breaks, then the order book is warning us that the range is ready to move lower.