The max pain price for Friday's bitcoin options expiry is $44,000.
Cryptos gain alongside stocks.
“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 rally may not be sustainable, according to Arcane Research.
Initial support around $48K could stabilize the pullback.
Bitcoin slipped below $50K and will likely consolidate this week, analysts say.
Bitcoin rallied after Coinbase announced it will add crypto to its balance sheet.
Buyers will likely remain active on pullbacks into the weekend.
Analysts expect bitcoin to remain above its 200-day moving average.
Support at $42K-$44K could stabilize the pullback.
Bitcoin and other cryptocurrencies are consolidating near recent highs.
BTC is trading around the 200-day moving average and will need to break out of a short-term range to resume the uptrend.