Less than half of crypto investors are bullish, which may be a good sign for the market.
Long-term investors and industry insiders are the most bullish on crypto.
Many of the market's participants are cautious and waiting for more developments before investing.
Neutral investors may have taken profits or exited the crypto market temporarily.
The overall sentiment is a mix of optimism, uncertainty, and fear.
In the crypto market, nothing is as valuable as insight and information.
Speaking of information, a recent survey from Coingecko now shows an interesting trend in terms of market sentiment:
Less than half of the crypto community is bullish on crypto.
While this might, at first glance, seem like a bad thing, here's why it's good for the crypto industry and what Coingecko's findings mean for the crypto market.
CoinGecko conducted this survey in the last two weeks, involving as many as 2,500 participants.
The survey respondents included a wide demographic of seasoned traders, crypto enthusiasts, speculators, and novices.
At the end of the survey, Coingecko found that only 49% of these respondents are bullish on crypto.
A staggering 94% of this 49% cohort reported holding or working in the crypto sector.
However, while less than half of the respondents were bullish, even smaller percentages were bearish or neutral.
For example, only 25% of the respondents were bearish on crypto, expecting the ongoing decline to worsen.
The remaining 25% of the respondents maintained a neutral stand, neither expecting the market to go up or down.
Interestingly, the 25% cohort that claimed bearishness shows that a good percentage of market participants are cautious and expect the market to turn up with more developments before choosing a side.
This uncertainty might result from several factors, including the current regulatory landscape in the crypto market, delays with the Ethereum spot ETF approvals in the US, technological advancements, and macroeconomic shifts like the upcoming US elections.
Coingecko calls the remaining 25% who remained neutral “spectators”.
Interestingly, despite monitoring the market, a good percentage of these spectators showed the lowest amount of crypto involvement.
Coingecko says that these spectators have likely taken profits temporarily or exited the market altogether in anticipation of possible changes.
In sum, long-term crypto investors showed the most bullish outlook of all, compared to the short-term holders.
Followed by the long-term holders, we had the industry insiders or people who worked closely within the crypto sector.
While less than half of the market shows bullish sentiment, the landscape is significantly better than the bearish half, with a wide display of optimism, uncertainty, and even fear.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.