Two months after the highly anticipated Bitcoin (BTC) Halving, the crypto market sentiment remains divided, according to a recent survey by CoinGecko. The survey, conducted between June 25 to July 8, 2024, highlights varying degrees of optimism and pessimism among crypto participants.
What Is the Current Crypto Market Sentiment?
Crypto market sentiment has become polarized, with no strong consensus emerging. The survey reveals that 49.3% of participants still feel bullish about the market, despite a notable pullback that followed an initial post-Halving rally. Specifically, 26.1% of respondents felt somewhat bullish, while 23.2% were fully bullish.
Approximately 25.5% of participants expressed a neutral stance, indicating uncertainty or a wait-and-see approach towards the market’s future developments. The remaining 25.2% felt bearish, with 13.4% somewhat bearish and 11.8% fully bearish.
Investors & Builders More Bullish Than Traders & Spectators
The survey categorized respondents into four groups: investors, builders, traders, and spectators. Investors were the most optimistic, with 54.1% expressing bullish sentiments and only 20.7% feeling bearish. Builders followed, with 47.6% feeling bullish and 31.6% bearish.
Traders displayed mixed sentiments, with 39.0% expressing bullishness and 33.5% bearishness. This reflects the traders’ tendency to adjust their market outlook based on short-term price movements, while investors and builders focus on long-term potential.
Spectators, who identified themselves as having no direct involvement in crypto, were the most pessimistic. Only 28.5% felt bullish, compared to 42.4% who expressed bearish sentiments. This group may represent those who have taken profits and exited the market temporarily.
Crypto Market Sentiment Survey Results
According to the survey, the breakdown of sentiment among crypto participants from June 25 to July 8, 2024, is as follows:
| Sentiment | Share of Participants |
|---|---|
| Bearish | 11.8% |
| Somewhat bearish | 13.4% |
| Neutral | 25.5% |
| Somewhat bullish | 26.1% |
| Bullish | 23.2% |
Methodology
The CoinGecko Post-Halving Sentiment Survey collected responses from 2,558 crypto participants. The survey was conducted anonymously, and the results are indicative rather than definitive. Among the participants, 69% considered themselves long-term investors, 18% were traders with shorter-term holdings, 7% were builders, and 6% were spectators.
Regarding experience, 46% of respondents were in their first crypto cycle (0 to 3 years), 41% in their second cycle (4 to 7 years), and the rest had over 8 years of experience. Geographically, 90% of participants were based in Europe, Asia, North America, or Africa, with the remaining 10% in Oceania or South America.
The study is for illustrative and informational purposes only and does not constitute financial advice. Participants are encouraged to conduct their own research before making any financial decisions.
For more detailed insights, visit the original survey on CoinGecko.
Image source: Shutterstock
