More than one in three active crypto traders in the United States cut everyday spending because of current market conditions. That is the headline finding from a survey conducted by CEX.IO in April 2026 among 1,100 of its US-based active users. Bitcoin is still trading roughly 40% below its October 2025 high, and accumulated unrealized losses are starting to show up in household budgets.
For context, the 2022 bear market saw Bitcoin fall around 75% from its peak, producing visible systemic damage across the industry. The current cycle, according to CEX.IO's own framing, is less severe overall, but its effects are spreading more quietly into everyday spending patterns.
36% cut expenses: what the numbers show
Among the 1,100 respondents, 36% confirmed they reduced daily spending directly because of market conditions. Of that group, 10% described their cuts as significant sacrifices made specifically to hold onto their crypto positions. The pattern points less to panic and more to deliberate reallocation: moving money from consumption into maintaining a trading stake.
At the same time, 37% said they delayed or cancelled planned purchases due to crypto-related losses. Within that group, 21% postponed major financial decisions, including buying a home, a car or carrying out renovations. Across the full sample, 38% reported some form of financial disruption since October 2025.
Traders navigating the downturn alone
The data on privacy stood out. Only 5% of respondents said someone else knows the full extent and value of their crypto holdings. The majority either share limited information or keep their positions entirely private. Crypto trading remains a deeply personal matter, often invisible even to close family members.
On the financial side, the picture is mixed. 77% did not take on debt connected to crypto. But 25% said they relied on savings to stay financially stable, and 12% missed or delayed regular payments. This is not a mass crisis, but it signals that a portion of retail investors is feeling real liquidity pressure.
How this compares to 2022
In 2022, Bitcoin dropped around 75% from its peak in a rapid decline accompanied by the collapse of Terra/Luna, Celsius and FTX. Institutional players also absorbed serious damage. The current drawdown, at roughly 40% from the October 2025 high, is smaller by comparison.
CEX.IO describes this cycle as one that "has not produced the kind of systemic shock seen in past cycles, but its effects appear to be showing up in quieter ways at the household level." The distinction matters: the damage is shallower, but more widely distributed among retail participants who joined the market in 2024-2025 and have not experienced a full bear cycle before.
Most traders still bullish on their positions
Financial strain has not translated into exit decisions for most respondents. 73% said their approach to earning income remains unchanged. 79% plan to hold or increase their crypto positions over the next six months. Nearly half of the sample holds more than 30% of their investable assets in crypto.
The pattern matches what behavioral finance researchers call the loss aversion effect: losses feel more painful than equivalent gains feel good, so people hold on rather than lock in a loss. These traders are trimming their coffee budgets and postponing car purchases, but they are not walking away from the market.
Crypto services are reshaping bank choices in Europe
A separate survey published by Borse Stuttgart Digital the same week polled around 6,000 investors across Germany, Italy, Spain and France. There, 35% of respondents said they would consider switching banks for better crypto services. Nearly one in five expects their primary bank to offer crypto access within three years.
The European data adds a different dimension to the same story. Even in a bear market, user expectations around crypto integration are moving in one direction: deeper into mainstream financial services.
What the data adds up to
The CEX.IO survey tracks the bear market through a practical lens: not chart prices, but real changes in how people spend money. One third of US traders reworked their budgets, a fifth put major plans on hold, but the clear majority is staying in. For those currently watching the market and weighing whether to sell positions, the survey offers one data point: there is no sign of a broad retail exit that would create unusual selling pressure in the near term.
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