The max pain price for Friday's bitcoin options expiry is $44,000.
In the journey to decide if you should even learn about digital assets and then how to make the asset class part of your practice, one of the first questions you might ask is what makes them so different.
The former Ethereum alternative darling is far off its all-time high for total value locked.
Cryptos gain alongside stocks.
The Bitcoin blockchain's mining difficulty increased by 13%, but industry experts say operators are still looking at fat profits ahead.
"Historically, Fed taper has been a headwind for bitcoin," one fund manager said.
"It is normal for investors to reduce exposure to enter at a lower price," one observer said.
“The fear is gone for now, and the market is optimistic,” Arcane Research wrote in a Tuesday newsletter. But not enough to keep bitcoin's price above $50K.
The data doesn't necessarily indicate that the traders are betting on price declines.
The rally may not be sustainable, according to Arcane Research.
Initial support around $48K could stabilize the pullback.
Monday set a new single-day sales record for CryptoPunks, and August sales have already set a monthly record, with prices for the NFTs averaging nearly $200,000.