A recent survey conducted by CoinGecko revealed that the sentiment among crypto investors is divided. The survey, which included 2,558 participants, took place from June 25 to July 8.
According to the report, only 49.3% of crypto investors are optimistic about the future of the market. Within this group, 26.1% felt somewhat bullish, while 23.2% were fully bullish. Interestingly, 25% of participants remained neutral, while 25.2% expressed bearish sentiments, with 13.4% feeling somewhat bearish and 11.8% fully bearish.
The breakdown of sentiments by participant type showed that investors were the most optimistic, with 54.1% feeling bullish and 20.7% bearish. Builders in the space followed closely, with 47.6% feeling bullish and 31.6% bearish. Traders had mixed feelings, with 39.0% bullish and 33.5% bearish, likely due to their short-term focus on the market. On the other hand, sidelined spectators, who have no direct involvement in crypto, were the most pessimistic, with only 28.5% feeling bullish compared to 42.4% bearish.
The survey also highlighted the continued decline of Bitcoin, which has dropped about 9.5% since its halving on April 20. While Bitcoin halving events have historically been followed by price rallies, this time the cryptocurrency has been on a downward trend since reaching a new all-time high in March. In the past month, Bitcoin has seen lower highs and lower lows, hitting a two-month low of $53,500 on July 5.
The market’s confidence has been further shaken by the potential sell pressure from $7.6 billion worth of Bitcoin that is set to be repaid to Mt. Gox creditors. Additionally, recent Bitcoin sales by the German government have added to investor uncertainty.
As the crypto market continues to face challenges, investors are closely monitoring the developments and adjusting their strategies accordingly. While some remain bullish about the market’s future, others are more cautious in their outlook. The fluctuating sentiments among investors reflect the current uncertainty and volatility in the crypto space.