Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%
Summary
Bitcoin has been consolidating between $67,000 and $70,000 after a 20% correction in early May. Selling pressure has decreased, with unrealized profits at 3%. Despite positive signs, Bitcoin's weekly candle closed below the range high resistance, indicating further consolidation. Historically, Bitcoin consolidates before significant bull cycles. The market is poised for a potential post-Halving rally, with BTC currently trading at $70,200.
