Cryptocurrencies Price Prediction: DYDX, Bitcoin & Crypto – European Wrap 30 January

FXStreet Team FXStreet

Can DYDX price overcome two critical hurdles and rally 25%?

DYDX price is making another comeback that could lead to handsome gains if it is successful. Investors need to watch out for the 12-hour momentum indicators, which clearly signal an imminent explosive upward move for the altcoin.

DYDX price created a range, extending from $2.84 to $4.36, as it shed 35% of its value between November 15 and 21. The range low at $2.84 played a key role in supporting the price action up to January 3. But a sudden selling pressure spike back then pushed the altcoin to breach the support floor and flip it into a resistance level.

Bitcoin price could rally as buying power increases with rise in exchange stablecoin reserves

Bitcoin (BTC) price recovers above $43,000 on Tuesday after its recent correction, which led to a fall from a two-year high of $48,969 to a low of $38,555.

Analysts at crypto intelligence tracker Santiment said that Bitcoin’s bull cycle, which started in October, is likely to continue as Bitcoin supply on exchanges has been in a downward trend since August. Dwindling exchange reserves are considered typical of a decline in selling pressure, which supports the thesis of a price recovery.

Major altcoins leading the crypto recovery

The cryptocurrency market has added over 2% in the last 24 hours. Bitcoin gained 3% during this time, Ethereum rose 1.75%, while Solana and Cardano outperformed the market, adding 5.7% and 8.3%, respectively. The outperformance in major altcoins points to a broadening of participant interest beyond the two largest coins. But don't expect sustained demand for smaller altcoins or meme coins this year - it usually happens after a prolonged bull market.

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

XRP, ADA, and SOL are vulnerable to deeper losses

The top altcoins, including Ripple, Cardano and Solana, are trading in the red as the broader cryptocurrency market faces downside pressure. The bearish pressure aligns with Citadel Securities' anticipation of a surprise Fed rate hike, which could reduce liquidity in high-risk assets, including crypto assets.

XRP and XLM extend correction as bearish pressure builds

Ripple and Stellar remain under pressure on Tuesday after losing over 4% and over 5%, respectively, the previous day. In addition, weakening momentum indicators and deteriorating derivatives metrics suggest sellers remain in control, raising the risk of further downside for both altcoins. Derivatives data shows a slight bearish tilt.

Bitcoin risks losing $63,000 – FET, SHIB lead losses

Bitcoin edges lower on Tuesday, extending its losses of over 2% from the previous day. The broader crypto market suffered nearly $600 million in liquidations over the last 24 hours amid renewed sell-off pressure. Artificial Superintelligence Alliance and Shiba Inu have emerged as the worst-performing crypto assets in the same time period.

Pump.fun surges following rising revenue and social push

PUMP, the native crypto of token launchpad Pump.fun, saw double-digit gains on Monday, rising to nearly $0.00220, its highest level in about 11 weeks, before easing. The recent gains have stretched its 14- and 30-day performance above 38% and 50%, respectively.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.