Bitcoin News Today: South Korean Bitcoin Investor Sentiment Turns Cautious as Bullish Outlook Drops 14.9%

A recent survey conducted by Bitcoin World and Cratos between August 18 and 22 reveals a notable shift in South Korean investor sentiment toward Bitcoin, indicating a more cautious and diversified outlook. The survey, which tracks weekly trends among South Korean cryptocurrency investors, shows a decline in overwhelmingly bullish expectations compared to the previous week, with a growing number of investors anticipating a stable market or potential downside [1].

Approximately 38.3% of respondents expect Bitcoin to rise this week, a significant drop from the 53.2% recorded the prior week. Meanwhile, 30.2% predict a stable market, reflecting a trend toward cautious optimism. On the other hand, bearish sentiment has increased to 31.5%, up from 22% the previous week, highlighting growing concerns about possible price declines [1].

The broader market sentiment also shows a mixed outlook. While 35.9% of investors remain optimistic or extremely optimistic, a similar 30% express fear or extreme fear, and 34.1% adopt a neutral stance. These findings point to a market that is increasingly wary of volatility and uncertain about future price movements [1].

In terms of altcoin expectations, South Korean investors display a spectrum of views. The most popular prediction is that gains will be limited to select tokens with strong utility or those linked to ETFs, chosen by 38.5% of respondents. Another 28.5% believe that any upward movement will remain concentrated in Bitcoin and Ethereum, underscoring continued confidence in the top two cryptocurrencies. Only 20.7% foresee a broad altcoin rally, while 12.3% believe the altcoin rally has already peaked and may now be on a downward trajectory [1].

The survey results suggest that South Korean investors are becoming more discerning and less susceptible to hype, especially as the market matures. The shift from strong bullishness to a more balanced sentiment reflects an evolving investor base that is placing greater emphasis on fundamentals and long-term stability [1].

Source: [1] South Korean Bitcoin Sentiment: Crucial Survey Reveals Shifting Investor Outlook (https://coinmarketcap.com/community/articles/68ac272707060634cfe4600a/)