53% of Crypto Investors Expect Bitcoin to Decline This Week as Bearish Sentiment Spreads

▲ Bitcoin (BTC), virtual assets, cryptocurrency, market fear, crypto decline / ChatGPT-generated image ©

Five out of ten domestic cryptocurrency investors predicted that the Bitcoin (BTC) market will show weakness this week (February 16–20).

According to the weekly survey on domestic investor market trends jointly conducted by Coinness and Cratos, 18.3% of respondents (34.3% the previous week) expected Bitcoin to rise or surge this week. Meanwhile, 28.7% (28.8% the previous week) forecast sideways movement, while 53.1% (36.9% the previous week) predicted a decline or sharp drop.

Bullish sentiment clearly declined, while pessimistic outlooks took an overwhelming lead. In response to a question about overall market sentiment, the largest share, 56.3%, said they felt fear or extreme fear. Those who responded neutral accounted for 29.7%, while only 14.2% expressed optimism or extreme optimism.

Amid reports that Google search volume indices are rising during Bitcoin’s sharp decline, 37.7%—the largest portion—responded that while interest has increased, capital inflows remain limited. Another 26% said the increase in searches is due only to volatility, 24.2% believed institutional influence outweighs that of retail investors, and 12.1% viewed it as a sign of retail investor return.

The survey was conducted from February 11 to 13 with 2,000 respondents. The margin of error is ±3.0% with a 95% confidence level. The research firm was Pharos Labs.

Disclaimer: This article is for investment reference only and we are not responsible for any investment losses incurred based on it. The content should be interpreted for informational purposes only.