3 Crypto Assets To Sell Today Before Bearish Sentiment

4 months ago 59

The digital assets are consolidating on previously recorded gains, however, users look ahead for some crypto to sell before bearish sentiments creep in. Although crypto prices have been high this year, the market has recorded bearish phases due to a shift in macroeconomic factors.

The recent United States CPI data flipped factors bullish for crypto assets leading to Bitcoin (BTC) rising above $67,000 amid a similar rally from altcoins and meme tokens. At press time, the cryptocurrency market capitalization is $2.42 trillion, a 0.20% decline. Here are the 3 crypto to sell as users have expressed signs of a bearish trend this week.

Ethereum (ETH)

Ethereum has increased 35% this year and trades at $3,075, a 0.01% decline today. The asset has posted mixed phases particularly high in Q1 as Bitcoin hit an all-time high and sharp liquidations in Q2 aftermarket sell-offs. Despite weekly gains after the r CPI report, users remain skeptical of the asset because of incoming spot ETF decisions.

The decision of the United States Securities and Exchange Commission (SEC) on spot Ethereum ETF applications this month will affect the asset price. According to some analysts, the chances of approval stay below 50% affecting the assets inflow. Last week, Ethereum recorded $23 million outflows from its institutional products making it among crypto to sell before a crash.

Ripple (XRP)

Ripple exchanges hands at $0.512 marking a slight 0.60 decline in the last 24 hours. The company’s settlement case with the SEC continues as the Commission rejected the proposed $10 million settlement. The long-drawn case with the financial regulator has affected the crypto’s price due to a reduced sentiment.

Shiba Inu (SHIB)

Meme coins have been on a steady increase following an uptick in the crypto market. However, a bearish sentiment can lead to a massive sale of assets. SHIB trades 0.70% below in the last 24 hours with almost similar weekly flows. Solana meme coins like Dogwifhat and BOME have soared 9.3% and 3% in the same time frame while SHIB trades sideways.