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.
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.
Analysts expect bitcoin to remain above its 200-day moving average.
Bitcoin and other cryptocurrencies are consolidating near recent highs.
The largest cryptocurrency by market value was trading close to its highest level in more than two months
Analysts said the market doesn't have much of an appetite now for bitcoin above $46,000 or for a massive selloff.
Bitcoin pulled back as traders digest regulatory developments in the U.S.
Bitcoin and ether remain well bid as U.S. senators reach a compromise on the crypto provision of the infrastructure bill.
Some analysts are optimistic about the broad crypto rally and see further upside, especially for ether.
Ether is up 3% over the past 24 hours.
Bulls returned to defend short-term support in bitcoin and ether.