Bitcoin Breaks Below EMA50: Mixed Signals Amidst Increased Trading Activity

Bitcoin has dropped below its 50-day Exponential Moving Average (EMA) for the first time since April, sparking caution among traders and institutions. Data from derivatives markets reveals a mix of bullish and bearish signals. Trading volume is up significantly, with over $86 billion in activity, while long positions have liquidated at a rate of nearly $100 million, indicating some weakness in bullish momentum. 7.39 shorts and 134x leverage are indicative of this trend.