Bitcoin Google searches surge as price swings rattle market
Global interest in the term “Bitcoin” on Google climbed sharply over the past week, coinciding with a rapid swing in the cryptocurrency’s price that briefly touched the $60,000 level for the first time since October 2024.
Provisional data from Google Trends indicates worldwide searches for “Bitcoin” reached a score of 100 in the week beginning Feb. 1, the highest reading in the past 12 months. The prior high was 95 during the week of Nov. 16–23, when Bitcoin (BTC) fell below the $100,000 psychological threshold for the first time in nearly six months.
Analysts often track Google search activity as a proxy for retail participation in crypto markets, which tends to rise during periods of pronounced price movement, including both breakouts to record highs and sudden declines.
Bitcoin retreated from about $81,500 on Feb. 1 to roughly $60,000 within five days, before rebounding to $70,740 at the time of writing, according to CoinMarketCap. BTC remains down 15.51% over the past seven days.
Some market commentators suggested the current trading range could be drawing fresh retail attention. “Retail is coming back,” Bitwise’s head of Europe, André Dragosch, said in a post on X on Saturday.
Signs of U.S. demand also emerged, according to CryptoQuant’s head of research, Julio Moreno, who wrote on X on Saturday that American investors were buying after prices reached $60,000. “The Coinbase premium is now positive for the first time since mid-January,” Moreno said.
Elsewhere, sentiment gauges point to ongoing caution. The Alternative.me Crypto Fear & Greed Index fell further on Saturday to “Extreme Fear” at 6, approaching levels last seen in June 2022.
Some participants viewed the extreme readings as a potential signal for value. Crypto analyst Ran Neuner said in an X post on Friday that “every single metric is telling you that Bitcoin has never been more undervalued on a relative basis.”
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should independently verify data and conduct their own research.
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