Bitcoin's price has risen to $70,514.72, marking a 3.44% increase, but market signals suggest caution. The MVRV ratio has climbed 11.65% to 1.28, indicating potential overvaluation. Despite the price uptick, a net inflow of 2,721 BTC to exchanges suggests mounting sell pressure, with funding rates at -0.06% reflecting bearish sentiment. Key support is identified at $60,000, with a significant resistance level at $76,000, where 90,879 BTC are concentrated. Analysts warn of a structural disruption in the mid-term, advising a defensive strategy with portfolio allocations between 0% and 40%. The market is characterized as a bull market correction rather than the onset of a bear market, urging investors to remain vigilant and manage risks effectively.