Market Analysis Post: Crypto Sentiment in Singapore Shows Shift Amid Rising Caution
Headline: Crypto Ownership Dips, But Confidence Persists in Singapore
Key Highlights:
Ownership Down: Crypto ownership in Singapore dropped from 40% to 29% in 2024, showing a more cautious investor mindset despite higher awareness (94%) and rising prices.
Top Holdings: Bitcoin (BTC) and Ethereum (ETH) remain dominant, held by 68% and 48% of investors respectively.
Selective Investment: 65% of investors now hold just 2–5 cryptocurrencies, reflecting a trend toward portfolio consolidation and quality over quantity.
Traditional Assets Rise: 49% of people now prefer cash or fixed deposits, a jump from 42% last year, signaling a shift toward safer financial instruments during uncertain times.
Crypto for Payments: Despite ownership decline, utility is rising — 52% of holders used crypto for payments, and 67% plan to use it more.
Market Influence:
Bearish for Altcoins: Less diversified portfolios may limit liquidity and support for smaller altcoins.
Bullish for BTC/ETH: Strong holding rates and payment utility support continued leadership of BTC and ETH.
Watch for Regulation News: Trust in crypto remains linked to stronger rules and responsible company behavior, which could influence future inflows.
Potential Retail Re-entry: With 53% of current holders planning to buy more in 12 months, a mid- to long-term demand surge is possible, especially if global conditions stabilize.
Conclusion:
While cautious sentiment is cooling broad adoption, foundational trust in BTC and ETH remains firm. The Singapore market, with its high awareness and practical usage trends, could be a leading indicator of future crypto adoption pattern
