$BTC 24h Margin Debt has dropped by -10.75%, indicating a significant deleveraging – traders are closing positions, likely out of fear or stop-loss triggers.

🔻 The Margin Long-Short Ratio has fallen dramatically, signaling declining bullish conviction over the past 24 hours.

📊 Meanwhile, the 30-day chart shows that while margin debt and positioning once favored bullish momentum (peaking on May 29), that confidence is waning.