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Bitcoin Ongoing Recovery: a Bull Trap or Breakout? Market Index Reveals Crucial Clues
- Bitcoin maintains upward trajectory, holding above $85,000 with a weekly gain of 4.7%.
- On-chain metrics and sentiment indicators evaluate Bitcoin's market health and potential direction.
- Bitcoin Combined Market Index (BCMI) suggests the market is not overheated yet.
- Key thresholds to monitor are the 7-day and 90-day moving averages of BCMI for clearer direction.
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