Cryptocurrencies Price Prediction: Bitcoin, Monero & Stellar – European Wrap 30 January

Bitcoin Weekly Forecast: BTC correction deepens as Fed stance, US-Iran risks, mining disruptions weigh

Bitcoin (BTC) price extends correction, trading below $82,000 after sliding more than 5% so far this week. The bearish price action in BTC was fueled by fading institutional demand, as evidenced by spot Exchange-Traded Funds (ETFs), which recorded $978 million in inflows through Thursday. In addition, this week’s Federal Reserve (Fed) press conference lacked dovish guidance, while US–Iran geopolitical tensions and disruptions to Bitcoin mining activity further supported the Crypto King’s deeper correction.

Bitcoin price started the first half of the week on a positive note, recovering slightly after a massive correction last week, but failed to close above the $90,000 on Wednesday. The price declined 5.21% on Thursday, erasing recent gains and extending its correction, reaching a low of $81,118 as of Friday.

Monero Price Forecast: XMR retreats as bearish outlook targets 200-day EMA

Monero (XMR) is down almost 5% at press time on Friday, extending the 2% loss from the previous day. The privacy coin retains positive funding rates, a sign of bullish interest among traders, despite massive outflows from XMR derivatives. Technically, the outlook for Monero is bearish, with prices testing a crucial support zone above $400.

Monero’s retail strength flashes mixed signals, with positive funding rates amid declining XMR futures Open Interest (OI) and massive long liquidations. CoinGlass data show that the XMR OI is down 12.48% over the last 24 hours, to $174.31 million, indicating a reduction in the value of outstanding contracts. 

Stellar Price Forecast: XLM deepens correction, slipping to 3-month low as risk-off mood persists

Stellar (XLM) continues to trade in the red, slipping below $0.20 on Friday, a level not seen since mid-October. Bearish sentiment intensifies amid falling Open Interest (OI) and negative funding rates in the derivatives market. On the technical side, weakening momentum indicators support further correction in XLM.

Derivatives data for Stellar support a bearish outlook. CoinGlass’s OI-Weighted Funding Rate data shows that the number of traders betting that the price of XLM will slide further is higher than those anticipating a price increase. The metric turned negative on Thursday and stands at -0.0049% on Friday, indicating that shorts are paying longs and suggesting bearish sentiment toward XLM.