Bitcoin

when

April

A recent CoinGecko survey, conducted over the past two weeks with more than 2,500 participants, has revealed that only about half of crypto investors and observers are currently “bullish” on the crypto market. 
The survey, published on July 10 and conducted between June 25 and July 8, polled 2,558 individuals, 94% of whom reported holding or working in cryptocurrency.
The survey revealed that 49.3% of respondents felt either “bullish” or “somewhat bullish” about the current state of the cryptocurrency market.
Around a quarter of the respondents were nearly evenly divided between “bearish” and “somewhat bearish,” while another quarter identified as “neutral,” indicating they did not expect the market to <a href="https://cointelegraph.com/learn/bull-vs-bear-crypto-market-what-is-the-difference-and-how-to-handle-both">move significantly up or down</a><a href="https://cointelegraph.com/learn/bull-vs-bear-crypto-market-what-is-the-difference-and-how-to-handle-both"></a>.
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 <img src="https://s3.cointelegraph.com/uploads/2024-07/d24ffa06-5792-4e4e-8e34-4af71e806394.png" alt="Bear or bull: Survey reveals 49% are bullish about crypto" title="">
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 Those “somewhat bullish” about crypto slightly edged out those who were “neutral.” Source: CoinGecko
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The large share of neutral sentiment “might reflect participants’ uncertainty toward crypto market conditions, or indicate that participants were waiting for further developments before forming their market view,” wrote CoinGecko research analyst Lim Yu Qian.
Among the four types of survey participants — investors, traders, builders and spectators — spectators were the <a href="https://cointelegraph.com/news/bitcoin-bulls-refuse-flip-bearish-despite-53300-retest"></a><a href="https://cointelegraph.com/news/bitcoin-bulls-refuse-flip-bearish-despite-53300-retest">most bearish on crypto</a>, with two in five reporting some level of pessimism.
Spectators were identified as having “no direct crypto involvement” and also had the highest share of those neutral on the market, at nearly 30%.
“Spectator respondents might reflect the views of participants who have taken profits and exited the market for the time being,” Lim added.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/61b34d1b-5159-43cf-955a-5e6d8f9c0e47.png" alt="Bear or bull: Survey reveals 49% are bullish about crypto" title="">
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 Each group saw a fairly even split between bullish, bearish and neutral market sentiments. Source: CoinGecko
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Meanwhile, investors who said they had long-term crypto holdings were the most bullish, closely followed by those who <a href="https://cointelegraph.com/news/bitcoin-rise-weak-job-market">work in the crypto space</a>. 
Related: <a href="https://cointelegraph.com/news/bitcoin-traders-under-pressure-after-deepest-correction-since-2022-erases-profits">Bitcoin traders ‘under pressure’ after deepest correction since 2022 erases profits</a>
The survey comes as Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) — the largest cryptocurrency by market cap — has fallen around 9.5% since its April 20 halving, when <a href="https://cointelegraph.com/news/bitcoin-halving-2024-completion-confirmed">mining rewards were cut in half</a><a href="https://cointelegraph.com/news/bitcoin-halving-2024-completion-confirmed"></a>.
Bitcoin trades at $57,585 at the time of writing on July 11, slightly up from last week’s <a href="https://cointelegraph.com/news/bitcoin-falls-55k-crypto-market-liquidations-half-billion">four-month low dip</a> below $54,000.
Past <a href="https://cointelegraph.com/news/bitcoin-halving">Bitcoin halving events</a>, which happen roughly every four years, have <a href="https://cointelegraph.com/news/bitcoin-halving-bull-run-130k-september-2025"></a><a href="https://cointelegraph.com/news/bitcoin-halving-bull-run-130k-september-2025">historically seen the cryptocurrency’s price rally</a> in the following months.
However, the <a href="https://cointelegraph.com/news/mt-gox-repayment-crypto-market-volatility">market has been rattled</a> by potential sell pressure from $7.6 billion worth of Bitcoin, which will soon be repaid to creditors of the failed crypto exchange Mt. Gox, as well as a recent dumping of Bitcoin by the German government. 
Magazine — ‘<a href="https://cointelegraph.com/magazine/bitcoin-layer2-sidechains-not-really-bitcoin-l2s/">Bitcoin Layer 2s’ aren’t really L2s at all: Here’s why that matters</a>

Bear or bull: Survey reveals 49% are bullish about crypto

Cointelegraph

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