{"id":610110,"date":"2024-05-28T04:00:02","date_gmt":"2024-05-28T04:00:02","guid":{"rendered":"https:\/\/uniquehot.com\/?p=610110"},"modified":"2024-06-11T07:02:59","modified_gmt":"2024-06-11T07:02:59","slug":"parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/","title":{"rendered":"Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%"},"content":{"rendered":"

The world’s largest cryptocurrency, Bitcoin (BTC), has been consolidating over the past week, trading between $67,000 and $70,000 after experiencing a brief 20% price correction that sent it as low as $56,400 in early May.\u00a0<\/span><\/p>\n

This <\/span>consolidation period<\/span><\/a> comes as inflows into the US spot Bitcoin ETF market have reignited, and selling pressure appears to have cooled off, both in the ETF market and among Bitcoin investors more broadly.<\/span><\/p>\n

Bitcoin Selling Pressure Fades<\/span><\/h2>\n

According <\/span><\/a>to Julio Moreno, head of research at on-chain market analytics firm CryptoQuant, the current Bitcoin price level of $70,000 differs from when it last reached that mark in March.\u00a0<\/span><\/p>\n

Moreno notes that traders are now exerting much lower selling pressure, as unrealized profits are only around 3%, compared to 69% in early March. This suggests that much of the \u201cheavy selling\u201d has been exhausted, as seen in the chart below.<\/span><\/p>\n

Related Reading: DeFiance Capital Foresees ETH Soaring To $4,500 Pre-Ethereum ETF Trading<\/a><\/div>\n
\"Bitcoin
Unrealized gains for BTC holders are only 3%. Source: Julio Moreno on X<\/a><\/figcaption><\/figure>\n

Santiment <\/span>data <\/span><\/a>also shows that Bitcoin has once again eclipsed a $70,000 market capitalization, even as the US stock market took a hiatus for the Memorial Day holiday.\u00a0<\/span><\/p>\n

Market intelligence platform Santiment sees this as an encouraging sign, as it demonstrates BTC\u2019s ability to perform positively on days when it is not closely correlated with the primary <\/span>stock market<\/span><\/a>, which has been the case for much of 2022.<\/span><\/p>\n

Final Pre-Breakout Consolidation Phase<\/span><\/h2>\n

Despite this positive momentum, crypto analyst Rekt Capital has <\/span>noted <\/span><\/a>that Bitcoin’s latest weekly candle closed below the range high resistance of its ongoing “re-accumulation” phase, which spans roughly $60,000 to $70,000.<\/span>
\n<\/span><\/p>\n

This likely sentences the leading cryptocurrency to further consolidation within this range, aligned with Rekt Capital’s <\/span>thesis <\/span><\/a>that two phases remain in the current bull cycle: the post-halving re-accumulation phase and the \u201cparabolic rally phase.\u201d<\/span><\/p>\n

Historically, Bitcoin has tended to consolidate around all-time highs before embarking on the most illustrative stretch of its bull cycles. According to the analyst, Bitcoin has indeed been consolidating<\/a> at these highs for quite some time now, especially by the standards of previous cycles<\/span>.\u00a0<\/span><\/p>\n

While there is still room for further sideways trading at these elevated price levels, the time remaining in this phase is slowly running out. This leads to the belief that the long-awaited <\/span>post-Halving<\/span><\/a> rally, coupled with renewed investor sentiment, is poised to take the largest cryptocurrency on the market to even higher levels than the current $73,700 reached in mid-March.<\/span><\/p>\n

Related Reading: Crypto Analyst Predicts 28,900% Rally To $154 For XRP Price, Here\u2019s When<\/a><\/div>\n

As such, Bitcoin appears to be entering a critical juncture in its current bull cycle. The consolidation and<\/span> re-accumulation<\/span><\/a> that has dominated the market in recent months could soon give way to the next parabolic surge, should historical patterns hold.\u00a0<\/span><\/p>\n

\"Bitcoin
The 1-D chart shows BTC’s price consolidation. Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n

As of now, BTC has gained 2% in the past 24 hours, adding to its 10% positive movement in the past month alone. Bitcoin is currently trading at $70,200.\u00a0<\/span><\/p>\n

Featured image from Shutterstock, chart from TradingView.com<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The world’s largest cryptocurrency, Bitcoin (BTC), has been consolidating over the past week, trading between $67,000 and $70,000 after experiencing a brief 20% price correction that sent it as low as $56,400 in early May.\u00a0 This consolidation period comes as inflows into the US spot Bitcoin ETF market have reignited, and selling pressure appears to have cooled off, both in the ETF market and among Bitcoin investors more broadly. Bitcoin Selling Pressure Fades According to Julio Moreno, head of research at on-chain market analytics firm CryptoQuant, the current Bitcoin price level of $70,000 differs from when it last reached that mark in March.\u00a0 Moreno notes that traders are now exerting much lower selling pressure, as unrealized profits are only around 3%, compared to 69% in early March. This suggests that much of the \u201cheavy selling\u201d has been exhausted, as seen in the chart below. Related Reading: DeFiance Capital Foresees ETH Soaring To $4,500 Pre-Ethereum ETF Trading Santiment data also shows that Bitcoin has once again eclipsed a $70,000 market capitalization, even as the US stock market took a hiatus for the Memorial Day holiday.\u00a0 Market intelligence platform Santiment sees this as an encouraging sign, as it demonstrates BTC\u2019s ability to perform positively on days when it is not closely correlated with the primary stock market, which has been the case for much of 2022. Final Pre-Breakout Consolidation Phase Despite this positive momentum, crypto analyst Rekt Capital has noted that Bitcoin’s latest weekly candle closed below the range high resistance of its ongoing “re-accumulation” phase, which spans roughly $60,000 to $70,000. This likely sentences the leading cryptocurrency to further consolidation within this range, aligned with Rekt Capital’s thesis that two phases remain in the current bull cycle: the post-halving re-accumulation phase and the \u201cparabolic rally phase.\u201d Historically, Bitcoin has tended to consolidate around all-time highs before embarking on the most illustrative stretch of its bull cycles. According to the analyst, Bitcoin has indeed been consolidating at these highs for quite some time now, especially by the standards of previous cycles.\u00a0 While there is still room for further sideways trading at these elevated price levels, the time remaining in this phase is slowly running out. This leads to the belief that the long-awaited post-Halving rally, coupled with renewed investor sentiment, is poised to take the largest cryptocurrency on the market to even higher levels than the current $73,700 reached in mid-March. Related Reading: Crypto Analyst Predicts 28,900% Rally To $154 For XRP Price, Here\u2019s When As such, Bitcoin appears to be entering a critical juncture in its current bull cycle. The consolidation and re-accumulation that has dominated the market in recent months could soon give way to the next parabolic surge, should historical patterns hold.\u00a0 As of now, BTC has gained 2% in the past 24 hours, adding to its 10% positive movement in the past month alone. Bitcoin is currently trading at $70,200.\u00a0 Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":610112,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,85533,485,532,91160,656,679,6481,755,768,1119,1122,1144,8390,78790,6664,14690],"class_list":["post-610110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bull-run","tag-bitcoin-chart","tag-bitcoin-etf","tag-bitcoin-etf-rally","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-rally","tag-bitcoin-technical-analysis","tag-bitcoin-trading","tag-btc","tag-btc-price","tag-btcusd","tag-btcusd-price","tag-btcusdt","tag-crypto","tag-crypto-news"],"acf":[],"yoast_head":"\nParabolic Rally In The Making? Bitcoin Regains $70,000 As Traders' Paper Profits Collapse To 3%<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC), has been consolidating over the past week, trading between $67,000 and $70,000 after experiencing a 20% price correction.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders' Paper Profits Collapse To 3%\" \/>\n<meta property=\"og:description\" content=\"Bitcoin (BTC), has been consolidating over the past week, trading between $67,000 and $70,000 after experiencing a 20% price correction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-28T04:00:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T07:02:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?fit=390%2C260\" \/>\n\t<meta property=\"og:image:width\" content=\"390\" \/>\n\t<meta property=\"og:image:height\" content=\"260\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ronaldo Marquez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Rmmcapital\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ronaldo Marquez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/\"},\"author\":{\"name\":\"Ronaldo Marquez\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c\"},\"headline\":\"Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%\",\"datePublished\":\"2024-05-28T04:00:02+00:00\",\"dateModified\":\"2024-06-11T07:02:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/\"},\"wordCount\":527,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?fit=390%2C260\",\"keywords\":[\"bitcoin\",\"bitcoin bull run\",\"Bitcoin chart\",\"Bitcoin ETF\",\"Bitcoin ETF Rally\",\"Bitcoin news\",\"bitcoin price\",\"bitcoin rally\",\"bitcoin technical analysis\",\"bitcoin trading\",\"btc\",\"btc price\",\"btcusd\",\"btcusd price\",\"BTCUSDT\",\"crypto\",\"crypto news\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/\",\"url\":\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/\",\"name\":\"Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders' Paper Profits Collapse To 3%\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?fit=390%2C260\",\"datePublished\":\"2024-05-28T04:00:02+00:00\",\"dateModified\":\"2024-06-11T07:02:59+00:00\",\"description\":\"Bitcoin (BTC), has been consolidating over the past week, trading between $67,000 and $70,000 after experiencing a 20% price correction.\",\"breadcrumb\":{\"@id\":\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#primaryimage\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?fit=390%2C260\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?fit=390%2C260\",\"width\":390,\"height\":260},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/uniquehot.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uniquehot.com\/#website\",\"url\":\"https:\/\/uniquehot.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/uniquehot.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/uniquehot.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/uniquehot.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c\",\"name\":\"Ronaldo Marquez\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/327ecc4c8e744ef573507a8dd49440d7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/327ecc4c8e744ef573507a8dd49440d7?s=96&d=mm&r=g\",\"caption\":\"Ronaldo Marquez\"},\"description\":\"Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry. One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.\",\"sameAs\":[\"https:\/\/instagram.com\/itsmarquez_fr?igshid=ZDdkNTZiNTM=\",\"https:\/\/x.com\/Rmmcapital\"],\"url\":\"https:\/\/uniquehot.com\/author\/ronaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders' Paper Profits Collapse To 3%","description":"Bitcoin (BTC), has been consolidating over the past week, trading between $67,000 and $70,000 after experiencing a 20% price correction.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/","og_locale":"en_US","og_type":"article","og_title":"Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders' Paper Profits Collapse To 3%","og_description":"Bitcoin (BTC), has been consolidating over the past week, trading between $67,000 and $70,000 after experiencing a 20% price correction.","og_url":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-05-28T04:00:02+00:00","article_modified_time":"2024-06-11T07:02:59+00:00","og_image":[{"width":390,"height":260,"url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?fit=390%2C260","type":"image\/jpeg"}],"author":"Ronaldo Marquez","twitter_card":"summary_large_image","twitter_creator":"@Rmmcapital","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Ronaldo Marquez","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#article","isPartOf":{"@id":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/"},"author":{"name":"Ronaldo Marquez","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c"},"headline":"Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%","datePublished":"2024-05-28T04:00:02+00:00","dateModified":"2024-06-11T07:02:59+00:00","mainEntityOfPage":{"@id":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/"},"wordCount":527,"publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"image":{"@id":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?fit=390%2C260","keywords":["bitcoin","bitcoin bull run","Bitcoin chart","Bitcoin ETF","Bitcoin ETF Rally","Bitcoin news","bitcoin price","bitcoin rally","bitcoin technical analysis","bitcoin trading","btc","btc price","btcusd","btcusd price","BTCUSDT","crypto","crypto news"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/uniquehot.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/","url":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/","name":"Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders' Paper Profits Collapse To 3%","isPartOf":{"@id":"https:\/\/uniquehot.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#primaryimage"},"image":{"@id":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?fit=390%2C260","datePublished":"2024-05-28T04:00:02+00:00","dateModified":"2024-06-11T07:02:59+00:00","description":"Bitcoin (BTC), has been consolidating over the past week, trading between $67,000 and $70,000 after experiencing a 20% price correction.","breadcrumb":{"@id":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#primaryimage","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?fit=390%2C260","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?fit=390%2C260","width":390,"height":260},{"@type":"BreadcrumbList","@id":"https:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/uniquehot.com\/"},{"@type":"ListItem","position":2,"name":"Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%"}]},{"@type":"WebSite","@id":"https:\/\/uniquehot.com\/#website","url":"https:\/\/uniquehot.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/uniquehot.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/uniquehot.com\/#organization","name":"NewsBTC","url":"https:\/\/uniquehot.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c","name":"Ronaldo Marquez","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/327ecc4c8e744ef573507a8dd49440d7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/327ecc4c8e744ef573507a8dd49440d7?s=96&d=mm&r=g","caption":"Ronaldo Marquez"},"description":"Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry. One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.","sameAs":["https:\/\/instagram.com\/itsmarquez_fr?igshid=ZDdkNTZiNTM=","https:\/\/x.com\/Rmmcapital"],"url":"https:\/\/uniquehot.com\/author\/ronaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%","url":"http:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?fit=390%2C260"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Ronaldo Marquez"}],"creator":["Ronaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bull run","bitcoin chart","bitcoin etf","bitcoin etf rally","bitcoin news","bitcoin price","bitcoin rally","bitcoin technical analysis","bitcoin trading","btc","btc price","btcusd","btcusd price","btcusdt","crypto","crypto news"],"dateCreated":"2024-05-28T04:00:02Z","datePublished":"2024-05-28T04:00:02Z","dateModified":"2024-06-11T07:02:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/parabolic-rally-in-the-making-bitcoin-regains-70000-as-traders-paper-profits-collapse-to-3\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Downpic.cc-2415715635.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Downpic.cc-2415715635.jpg?fit=390%2C260\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Ronaldo Marquez\"}],\"creator\":[\"Ronaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bull run\",\"bitcoin chart\",\"bitcoin etf\",\"bitcoin etf rally\",\"bitcoin news\",\"bitcoin price\",\"bitcoin rally\",\"bitcoin technical analysis\",\"bitcoin trading\",\"btc\",\"btc price\",\"btcusd\",\"btcusd price\",\"btcusdt\",\"crypto\",\"crypto news\"],\"dateCreated\":\"2024-05-28T04:00:02Z\",\"datePublished\":\"2024-05-28T04:00:02Z\",\"dateModified\":\"2024-06-11T07:02:59Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Downpic.cc-2415715635.jpg?fit=390%2C260","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/610110"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/589"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=610110"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/610110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/610112"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=610110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=610110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=610110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}