CryptoQuant Survey Finds 84% of Bitcoin Analysts Bullish
CryptoQuant reports that 84% of 164 surveyed analysts were bullish on Bitcoin, up from 37% in early July. The figures show a sharp shift in surveyed sentiment, but they do not predict where Bitcoin’s price will go next.
- 137 of 164 respondents were bullish, according to CryptoQuant.
- The firm’s 30-day consensus index fell to −18.3 on July 2 and later stood at +49.2.
- The index’s 30-day moving average crossed above zero on July 27, when Bitcoin was near $63, 800.
- CryptoQuant does not explain how respondents were selected or how the index was calculated.
Sentiment shifts from negative to positive
CryptoQuant’s figures cover market activity from July 1 to October 13, 2026. The firm says its 30-day consensus index bottomed at −18.3 on July 2. Its 30-day moving average crossed above zero on July 27, when Bitcoin traded near $63, 800. The index later reached +49.2.
Separately, CryptoQuant reports that the share of surveyed analysts who were bullish rose from 37% in early July to 84%, or 137 of 164 respondents. The firm describes both figures as measures of analyst consensus, but does not say whether they are based on the same respondents.
A 30-day moving average smooths readings over time, making broad shifts easier to spot than day-to-day fluctuations. But a move above zero should not be treated as a buy signal. CryptoQuant’s figures do not explain the index’s scale, inputs, or track record as a predictor.
Some comparisons need more detail
CryptoQuant says consensus turned positive three weeks before Bitcoin’s price breakout. The firm does not give the breakout date or the price level it uses to define one, making the timing claim hard to assess. It also says current bullishness exceeds levels at a comparable point in the 2023 bull market, even though the price gain in the current cycle is smaller. The underlying figures and comparison method are not provided.
The headline claim that analysts have not been this bullish since August 2025 also comes without details on how the comparison was measured. These statements may offer context, but without the supporting data they do not establish a reliable comparison between market cycles.
CryptoQuant’s broader weekly research reportedly found improving sentiment across several major cryptocurrencies, though the data highlighted here focuses mainly on Bitcoin. The report also cites the Crypto Fear and Greed Index, which stood at 63, in the “Greed” category. That provides another snapshot of market mood, not proof that prices will rise.
What bullish sentiment can and cannot show
A survey records stated views. It does not show whether respondents have acted on those views, how much risk they have taken, or what time horizon they have in mind. A rising share of bullish respondents also does not prove that demand for Bitcoin has strengthened or explain why analysts are optimistic.
One reading is encouraging: analyst sentiment improved before the price move CryptoQuant calls a breakout. A more cautious view is that widespread optimism may mean expectations are already high, leaving less room for good news to surprise the market. Neither interpretation makes the survey a dependable trading signal.
The figures support a narrower conclusion: surveyed analysts became substantially more bullish over the period CryptoQuant measured. Without the survey and index methodology, it remains unclear how representative the group is or what its sentiment says about future prices.
Key questions and answers
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How many surveyed analysts were bullish on Bitcoin?
CryptoQuant reported 137 of 164 respondents, or 84%, compared with 37% in early July.
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When did the consensus measure turn positive?
CryptoQuant says its 30-day moving average crossed above zero on July 27, when Bitcoin was near $63, 800.
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What do the index readings mean?
The index bottomed at −18.3 on July 2 and later stood at +49.2. CryptoQuant’s published figures do not explain the scale or calculation. The readings show the direction of sentiment, but they cannot be interpreted as a defined price target.
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Does bullish sentiment show that analysts have bought Bitcoin?
No. A survey captures respondents’ stated outlook, not their actual positions, exposure, or investment time horizon.
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What did the Crypto Fear and Greed Index show?
It registered 63, categorized as “Greed.” It is a separate sentiment indicator, not a prediction of Bitcoin’s next move.
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What remains unclear about CryptoQuant’s figures?
The reported information does not explain how analysts were selected, how the consensus index is calculated, or exactly what price move counted as the breakout.
