According to data provided by Google Trends, Google searches for Bitcoin have now plunged to multimonth lows.
The score for this specific search term has plunged to 28 on the 12-month time frame, the lowest level since October 2024.
Google search interest for Bitcoin peaked in November 2024, which came shortly before the cryptocurrency surpassed $100,000 for the first time.
After recovering from the recent price correction, Bitcoin is hovering near the $95,000 level. However, retail investors do not seem to be onboard despite the fact that the cryptocurrency is just 13% away from its record high of $108,786 achieved in January.
Silver lining
Bitwise Invest CEO Hunter Horsley has noted that Bitcoin's recent recovery was evidently not driven by retail, based on the lack of search interest. Instead, sophisticated investors are seemingly keeping the cryptocurrency afloat amid global economic uncertainty caused by tariff disputes.
"Institutions, advisors, corporates, and nations have come into the space. The types of investors buying Bitcoin are expanding," Horsley said.
Gamza KhanzadaevThis is confirmed by the fact that Bitcoin exchange-traded funds recorded their second-biggest inflows since inception last week.
Relentless force
On Sunday, Hursley opined that the fact that tens of millions of people are working to make Bitcoin succeed was the cryptocurrency's most powerful attribute.
"Betting against Bitcoin isn't just betting against proof of work, or a digital store of value. It's betting against the relentless will of a growing force," he noted.
Vladislav Sopov
Dan Burgin