This week we launched a new weekly crypto sentiment survey to track sentiment towards the space. There are already plenty of stock market sentiment surveys, but sentiment survey data in the crypto space — bitcoin, ethereum, NFTs, etc. — is few and far between.
The new survey will be sent weekly to our Think BIG mailing list that has thousands of potential survey participants that have an interest in financial markets simply based on the fact that they joined our mailing list by visiting our website. We will collect responses from Tuesday through Thursday each week and publish the results on Fridays.
In the survey, we ask whether the participant is “bullish or bearish” on seven things over the next 12 months — 1) the entire crypto space, 2) bitcoin, 3) ethereum, 4) NFTs, 5) the S&P 500, 6), US Tech stocks, and 7) Chinese equities. While we are mainly focused on collecting sentiment towards the crypto space, we thought including sentiment on equities was beneficial so that we could easily compare the two over time.
Below are the results from the first run of our new weekly survey. Participants are actually most bullish on US Tech stocks out of this group with a bull/bear spread of +51.3%. The S&P 500 also leaned heavily bullish with only 5.8% of respondents saying they were bearish over the next 12 months.
Sentiment towards the entire crypto sector leans bullish with bulls coming in at 56.6% and bears coming in at 18.9%. The bull/bear spread for bitcoin was +23.8 ppts, while the bull/bear spread for ethereum was considerably higher at +47.1 ppts. Notably, participants are much less bullish on the NFT space with just 22.1% bulls and 36.9% bears. Chinese stocks also saw bulls and bears come in exactly equal at 37.4% each. If you’d like to help us measure crypto sentiment going forward, you can join our Think BIG mailing list and take the survey starting next week. Click here to view Bespoke’s premium membership options.