Bitcoin's price has steadily risen from $96,000 to nearly $97,000, indicating resilience in the leading cryptocurrency. However, market signals are mixed, leading analysts to consider the potential for further bullish momentum or a near-term pullback. Onchain Edge's analysis suggests that Bitcoin is not yet overvalued based on two key indicators, the Taker Buy/Sell Ratio and MVRV Ratio. The MVRV Ratio is below levels typically seen at market tops, indicating room for further upside. Other indicators also suggest that Bitcoin is not overbought. However, the Taker Buy/Sell Ratio is below the threshold associated with bullish strength, signaling the potential for a market correction. Bitcoin's performance in the coming days will determine if the rally can continue or if a pause is on the horizon.



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