Bitcoin (BTC) Market Sentiment Divided as Investors Emerge as the Most Bullish Group

Cryptocurrency investors, developers, speculators, and traders seem to be divided with their views on the current market state with “no strong consensus sentiment” prevailing right now.

Cryptocurrency investors, developers, speculators, and traders appear to be divided in their views on the current state of the crypto market, with “no strong consensus sentiment” observed, according to a recent survey by crypto prices aggregator CoinGecko.

The survey, which was conducted from mid-June to July 8 and included 2,558 participants, aimed to gauge market sentiment among different groups of people in the crypto ecosystem.

The largest group of respondents (26.1%) described themselves as “somewhat bullish,” while the smallest group (11.8%) identified as “strongly bearish.” Overall, nearly 50% of participants expressed bullish sentiments despite Bitcoin's recent price drop below $56,000.

According to CoinGecko, the neutral sentiment was the “second most common survey response,” which could indicate that participants are “waiting for further developments before forming their market view.”

Among the different groups, investors were notably the most optimistic, with over 54.1% feeling bullish and only 20.7% having bearish sentiments.

“In comparison, traders’ crypto market sentiments were largely mixed, with 39.0% expressing bullishness and 33.5% bearish.”

CoinGecko

Speculators were the most pessimistic, with 28.5% of them feeling bullish compared to 42.4% who were bearish. CoinGecko suggested that this cohort might have taken profits and “exited the market for the time being.”

In early July, Bitcoin's (BTC) price crashed rapidly as German authorities began selling tranches of BTC on exchanges after seizing 50,000 BTC from the illegal film website Movie2k.

In a recent interview with CNBC, crypto entrepreneur Anthony Pompliano stated that people are “scared of buying Bitcoins” due to the influx of thousands of coins into the market, adding that BTC is currently in a highly illiquid market state, with German sell-offs significantly impacting the price.

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