Author: Lim Yu Qian, Coingecko; Translated by: Wuzhu, Golden Finance
What is the current crypto market sentiment?
Just two months after the Bitcoin halving, crypto market sentiment is divided, with no strong consensus sentiment. According to a recent survey, 49.3% of crypto participants are still optimistic about the market, even as a pullback reverses the initial post-halving rally. Specifically, 26.1% of respondents feel somewhat optimistic, slightly higher than the 23.2% who are completely optimistic.
A quarter of cryptocurrency participants have a neutral attitude towards the market, leaning neither towards bullish nor bearish sentiment. Neutral sentiment was the second most common response in the survey. This may reflect participants' uncertainty about the state of the cryptocurrency market, or indicate that participants are waiting for further developments before forming a market view.
The remaining 25.2% of participants are bearish on the cryptocurrency market. Bearish sentiment on the cryptocurrency market is once again almost evenly distributed, with 13.4% of participants saying they are somewhat bearish and 11.8% saying they are completely bearish.
Investors and builders are more bullish on cryptocurrencies than traders and onlookers
Of the four categories of survey participants, investors were the most optimistic about the market: 54.1% of crypto investors were bullish, with only 20.7% holding a bearish sentiment. Builders were the second most optimistic group, with 47.6% expressing bullish sentiment and 31.6% expressing bearish sentiment.
In contrast, crypto sentiment among traders is mixed, with 39.0% expressing bullish sentiment and 33.5% expressing bearish sentiment. This perhaps highlights that short-term holding traders are more likely to adjust sentiment based on price action, while investors and builders are more focused on the potential of the crypto market over the longer term.
Observers were the most pessimistic about the cryptocurrency market, with 28.5% of responses being bullish, compared to 42.4% being bearish. Given that they claimed not to be directly involved in cryptocurrencies, the audience’s responses likely reflect the views of participants who have taken profits and temporarily exited the market.
Still, it’s worth noting that the survey did not strictly define each type of engagement, allowing respondents to self-select based on their perceptions. Therefore, the perceived definitions of long-term and short-term cryptocurrency holdings may vary.
Crypto Market Sentiment Survey Results
According to a survey of cryptocurrency participants, the current cryptocurrency market sentiment from June 25 to July 8, 2024 is as follows:
