Inflows into crypto assets were recorded in the past three quarters as institutional investors increased their appetite for cryptocurrencies. These inflows have sent the prices of most assets soaring this year to multi-month highs.
Bullish traders, on the other hand, predict further gains in the market based on upcoming events. Bitcoin halving, they argue that bearish investors are showing signs of a price correction as most assets have reached their peak cycle. Cryptoassets are known for their high volatility and are labeled risky by traditional investors.
After weeks of new highs, some analysts are suggesting a price correction is imminent. Here are the top crypto assets to consider selling this month before the market takes a bearish outlook.
Solana
Solana (SOL) is a top crypto asset commonly referred to as an ETH killer along the lines of the community. The asset is trading at $182.7, down 0.4% in the past 24 hours. Solana posted strong profits last year, wiping out losses for 2022 as prices continued their upward trend. SOL soared more than 900% in 2023, making it back as a popular cryptocurrency among institutional investors.
The asset faces an outlook for momentum to slow this week, falling 2.9% and trimming its monthly gain to 42%. There are two main reasons for Solana price decline: future Ethereum ETF approval and price drop. solana meme coin Optimistic.
Institutional investors injected money into Solana last year, but with asset managers hinting at possible approval of an Ethereum Spot ETF by the U.S. Securities and Exchange Commission (SEC), investors are seeing more interest in Ethereum than in the asset. You may like it.
dogecoin
Dogecoin (DOGE) is a major meme coin and a highly volatile crypto asset. Once the bull market turned on, the cryptocurrency market rallied around DOGE. However, there are signs of correction; bear trader Warning of price declines across the broader market DOGE rose 1.5% today but is down 18% this week.
Due to these trends, this month's large price increase was limited to 18%. Meme coins may face outflows due to macroeconomic factors and declining market sentiment.
dogwifat
Solana memecoin is one of the crypto assets that has seen a significant rise in the past few months. However, in recent weeks, these assets have been flowing out in the wake of declining sentiment and the faltering enthusiasm for meme coins. The cryptocurrency has fallen 4.1% in the past 24 hours and 9.2% this week.
Also read: Cryptocurrency stocks soar as market rises
