Despite U.S. President Donald Trump’s executive order, the crypto market sentiment remains bearish, as reported by Odaily. Observers are concerned about the market’s fragility, with Ethereum (ETH) notably weak, having dropped by 43% in the last year. The recent signing of the executive order did not trigger a positive market response, leading traders to opt for short-selling tactics.
The Current State of the Market
Market sentiment, as highlighted by Greeks.live macro researcher Adam in a Chinese community briefing, is overwhelmingly bearish. Even with the potential benefits of Trump’s executive order, the market is showing little to no positivity.
📉 Why the Market Is Bearish?
The market’s bearish stance can be attributed to various factors, including the lack of a significant bullish catalyst despite Trump’s recent executive order. Ethereum’s substantial 43% decline over the past year has also contributed to the prevailing negative sentiment.
⚡ What Could Happen Next?
Traders are closely monitoring the market for any signs of a turnaround. If Ethereum’s downtrend continues or worsens, it could signal further bearish sentiment in the market. On the other hand, a sudden positive development could potentially reverse the current trend.
🤔 Is It Time to Short-Sell?
Given the market’s current bearish outlook, some traders are adopting short-selling strategies to capitalize on the downward movement. However, the volatility in the market makes it essential for traders to exercise caution and stay informed about potential market shifts.
Will the market sentiment improve, or are further declines on the horizon? Share your thoughts below!
#Cryptocurrency market analysis, #Ethereum price drop, #Trump executive order impact