Cryptocurrencies Price Prediction: Hyerliquid , Bitcoin & Crypto – European Wrap 11 February

Hyperliquid Price Forecast: HYPE tests key support as sell-side pressure intensifies

Hyerliquid (HYPE) drops to its 50-day Exponential Moving Average (EMA) at $28.85 at the time of writing on Wednesday, extending a decline of roughly 10% so far this week. The declining bullish interest in HYPE derivatives results in a short-side-dominant positional build-up. The technical outlook for Hyperliquid focuses on the 50-day EMA as the short-term moat amid rising selling pressure.

Bitcoin Price Forecast: BTC slips below $67,000 ahead of US Nonfarm Payrolls data

Bitcoin (BTC) price extends losses, trading below the lower consolidating boundary at $67,300 at the time of writing on Wednesday. A firm close below this level could trigger a deeper correction for BTC. Despite the weakness in price action, institutional demand shows signs of support, recording mild inflows in Exchange Traded Funds (ETFs) so far this week. Meanwhile, market participants now await the US Nonfarm Payrolls (NFP) data, to be released on Wednesday, which could provide directional bias for the Crypto King.

Crypto Today: Bitcoin, Ethereum, XRP extend sell-off amid negative funding rates 

Bitcoin (BTC) is logging its third consecutive day of declines, trading slightly below $67,000 at the time of writing on Wednesday. The Crypto King is down 15% in February and looks poised to extend its losses toward the yearly low of $60,000.

Ethereum (ETH) and Ripple (XRP) are following in Bitcoin's footsteps, weighed down by a weak derivatives market. Risk-off sentiment has seen the Crypto Fear & Greed index plunge into extreme fear.