Post-Halving Crypto Market Sentiment Mixed, Halving Still Bullish

What is the current crypto market sentiment?

Crypto market sentiment has become divided just two months after the Bitcoin Halving, with no strong consensus sentiment. According to a recent survey, 49.3% of crypto participants still felt positive about the market even amid the pullback that reversed an initial post-Halving rally. Specifically, 26.1% of respondents felt somewhat bullish, which was slightly more than the 23.2% who were fully bullish.

1 in 4 crypto participants felt neutral about the market, not leaning towards bullish or bearish sentiments. The neutral sentiment was the second most common survey response. This may reflect participants’ uncertainty towards crypto market conditions, or indicate that participants were waiting for further developments before forming their market view.

The remaining 25.2% of participants felt bearish on the crypto market. Again, bearish crypto market sentiment was almost evenly spread, with 13.4% responding that they were somewhat bearish and 11.8% fully bearish.

Investors and builders more bullish Crypto than Traders and Spectators

Among four types of survey participants, investors were the most optimistic about the market: 54.1% of crypto investors felt bullish and only 20.7% had bearish sentiments. Builders were the second most optimistic, with 47.6% indicating bullish sentiments and 31.6% bearish.

In comparison, traders’ crypto market sentiments were largely mixed, with 39.0% expressing bullishness and 33.5% bearish. This perhaps highlights how traders with shorter-term holdings are more likely to adjust their market sentiments in line with price action, while investors and builders are more focused on the crypto market’s potential in a longer time horizon.

Sideline spectators were the most pessimistic about the crypto market, with the 28.5% bullish reactions outnumbered by the 42.4% expressing bearish sentiments. Given that they self-identified as having no direct crypto involvement, spectator respondents may reflect the views of participants who took profits and exited the market for the time being.

That said, it is worth noting that the survey did not strictly define each type of participation to allow respondents to self-select based on their own perception. As such, perceived definitions of long-term and short-term crypto holdings may differ.

Crypto market sentiment survey results

According to the survey of crypto participants, the current crypto market sentiment from June 25 to July 8, 2024 is as follows:

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Sentiment
Share of participantsBearish 11.8% Somewhat bearish 13.4% Neutral 25.5% Somewhat bullish 26.1% Bullish 23.2%

Methodology

The study examined 2,558 crypto participants’ responses in the anonymous CoinGecko Post-Halving Sentiment Survey from June 25 to July 8, 2024. Survey results should be taken as an indication only.

Among the survey participants, 69% identified themselves as crypto-investors with primarily long-term holdings, 18% identified as traders with primarily shorter-term holdings, 7% as builders, and 6% as onlookers on the sidelines. In terms of how long participants had been in crypto, 46% were in their first cycle (0 to 3 years in crypto), 41% were in their second cycle (4 to 7 years) and the remaining participants were veterans with 8 or more years of experience. Geographically, 90% of participants said they were based in Europe, Asia, North America and Africa, while the rest were in Oceania or South America.

This study is for illustrative and informational purposes only, and is not financial advice. Always do your own research and be careful when putting your money into any crypto or financial asset.

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Curious to find out more about our past research studies and statistics? Check out this one we did on Bitcoin and Ethereum compared to the Magnificent Seven stocks.