Bitcoin News Today: South Korean Crypto Investors 47.8% Bullish on Bitcoin Price Rise in August

A recent survey conducted by Bitcoin World and Cratos from August 6 to 8 has revealed growing optimism among South Korean cryptocurrency investors regarding the continued bullish trend in the market this month. Nearly half of the respondents—47.8%—believe Bitcoin’s price will either rise or significantly increase, a notable jump from 37% the previous week [1]. This upward shift in sentiment indicates strengthening confidence in the short-term trajectory of Bitcoin.

The survey also examined broader market sentiment, finding that 51.9% of respondents expressed optimism or extreme optimism about the overall crypto market. This is a significant increase from prior expectations and contrasts with only 18.1% of respondents who expressed fear or extreme fear [1]. The decline in bearish outlooks—only 22.2% of investors now expect a price drop—further underscores the positive shift in sentiment. The trend highlights a growing sense of security among South Korean investors about the market’s stability.

Perhaps the most telling data point is the response to whether the cryptocurrency rally will continue into August. A substantial 44% of respondents expect the rally to persist throughout the month, with another 38% anticipating a modest pullback or sideways movement [1]. Only 18% foresee a reversal to the downside. These expectations reflect a strong belief in sustained upward momentum and reinforce the idea that Korean investors are positioning themselves for further gains.

This optimism is partly fueled by recent developments in the global crypto market, including Bitcoin’s recent surge above $122,000, driven by institutional ETF inflows and supportive U.S. policies [2]. Additionally, XRP has seen a 384% increase in the past year and has surpassed Bitcoin and Ethereum in trading volume on some South Korean exchanges [3]. These developments indicate a broader shift in attention toward both major and alternative cryptocurrencies.

The approval of Bitcoin and Ethereum spot ETFs in the U.S. has further boosted market confidence, leading to increased institutional interest and capital inflows [4]. Analysts suggest this trend could continue, particularly if key resistance levels are successfully breached. However, some caution remains, with warnings that a strong U.S. dollar or a failure to break key price levels could trigger a correction [5].

Despite these risks, Korean investors appear to be focused on the long-term potential of cryptocurrencies, aligning with the global trend of growing institutional adoption. Their confidence suggests that the current rally may be supported by both structural and speculative factors. As the market continues to evolve, the behavior of major players, including increased Bitcoin holdings by firms like BlackRock and Tether, will be closely monitored for signs of ongoing institutional support [6].

Source:

[1] https://coinmarketcap.com/community/articles/6899b5b5f03a483a8427dbba/

[2] https://www.ainvest.com/news/bitcoin-news-today-bitcoin-surges-122k-etf-inflows-pro-crypto-policy-boost-2508/

[3] https://www.ainvest.com/news/xrp-news-today-xrp-rallies-384-year-analysts-flag-potential-777-breakout-28-16-2508/

[4] https://cryptodnes.bg/en/tag/bitcoin/page/39/