Bitcoin analyst Doctor Profit has identified a significant structural shift in market behavior as Bitcoin's price falls below the EMA50 during a death cross. This marks a departure from previous cycles where the EMA50 served as a reliable support level. The analyst attributes the current sell pressure to reduced exposure from ETFs and whale activity. Doctor Profit also highlighted macroeconomic stress signals and extreme fear indicators, suggesting the market downturn may continue. He has fully hedged his position, with shorts averaging around $119,000, reflecting a cautious stance amid ongoing volatility.