Clutch question

[lah2420]

I have an 87 4.2 that I've been running an AX15 with an external slave for a couple of years. There's only about 5000 miles on the clutch. I've noticed lately that I only have to barely push the pedal to engage the clutch. It wasn't that way to begin with. I know when the fluid is low or the hydraulics are in need of bleeding that the pedal may go farther to the floor before engaging. What causes it to be so sensitive that you barely have to push it? I think it is slipping a little in 5th gear too now.