Bitcoin plunged 46% from its all-time high above $126,000 to briefly below $61,000 during February, wiping out more than $1 trillion in market value in one of its sharpest corrections since the collapse of FTX.
Despite the sell-off, a survey of 1,006 US bitcoin holders conducted by Oobit found that 85% did not sell any bitcoin during the downturn, while nearly three-quarters said they would continue holding even if prices fell further.
Only 8% of respondents admitted to panic selling, with anxiety and hope cited as the dominant emotions at 39% and 38% respectively, underscoring the persistence of so-called “diamond hands” among retail investors.
The survey also found that 66% of holders believe bitcoin will reach a new all-time high, with Gen Z investors leading optimism at 70%, and a median 12-month price forecast of $75,000, while 25% reported buying the dip.
Oobit’s analysis of more than 117,000 Reddit posts showed sentiment running nearly two-to-one positive even at the height of the crash, with bullish posts generating stronger engagement than bearish commentary, and following the announcement the Oobit share price was unchanged at $N/A.