Google Search Interest for “Bitcoin” Hits 12‑Month High as Price Dips to $60,000
Worldwide queries for the cryptocurrency reached a Google Trends score of 100 for the week of Feb. 1, coinciding with a sharp, five‑day slide in Bitcoin’s price.
What the data show
According to provisional Google Trends figures, the term “Bitcoin” achieved a peak search‑interest score of 100 for the week beginning 1 February, the strongest level recorded in the past twelve months. The previous high, a score of 95, was logged in the week of 16‑23 November, when the digital asset briefly fell below the psychologically significant $100,000 mark.
The surge in searches comes on the heels of a rapid price correction. Bitcoin fell from roughly $81,500 on 1 February to about $60,000 within five days—a level not seen since October 2024. By the time of reporting, the price had recovered to around $70,740, still down roughly 15.5 % over the past week, as per CoinMarketCap data.
Why the spike matters
Google search volume is one of several on‑chain and off‑chain metrics analysts use to gauge retail sentiment. Historically, spikes in interest tend to accompany major market moves—whether a rally to a new all‑time high or a sudden sell‑off. The current uptick suggests that a broader segment of retail investors is paying renewed attention to Bitcoin as it navigates a volatile price range.
Industry commentators have taken note:
- André Dragosch, head of Europe at asset manager Bitwise, posted on X that “retail is coming back,” implying that the price dip may be attracting new or returning individual investors.
- Julio Moreno, head of research at on‑chain analytics firm CryptoQuant, observed that U.S. investors are purchasing Bitcoin now that it has settled at the $60,000 level. He also highlighted that the “Coinbase premium”—the price difference between Coinbase and other venues—has turned positive for the first time since mid‑January, a possible sign of renewed demand on the exchange.
Contrasting sentiment signals
While search interest is climbing, the broader market mood remains cautious. The Alternative.me Crypto Fear & Greed Index slid to an “Extreme Fear” reading of 6 on Saturday, nearing levels not seen since June 2022. Such low scores are often interpreted by contrarian traders as potential buying opportunities.
Crypto analyst Ran Neuner reinforced this view on X, stating that “every single metric is telling you that Bitcoin has never been more undervalued on a relative basis.” The sentiment aligns with the notion that the current price correction could present a favourable entry point for long‑term investors.
Key takeaways
| Indicator | Current reading | Interpretation |
|---|---|---|
| Google Trends (search interest) | 100 (week of Feb 1) | Highest global interest in 12 months; indicates heightened retail attention. |
| Bitcoin price (7‑day change) | –15.5 % | Significant short‑term decline, but price has begun to recover. |
| Fear & Greed Index | 6 (Extreme Fear) | Market sentiment is sharply negative; may signal contrarian buying interest. |
| Coinbase premium | Positive (first time since mid‑Jan) | Suggests renewed buying pressure on the leading U.S. exchange. |
Outlook
The convergence of record‑high search interest, a sizeable price correction, and a deep “fear” reading points to a potential inflection point for Bitcoin. While the surge in queries reflects growing curiosity—or concern—among retail participants, the lingering bearish sentiment underscores that many market participants remain cautious. Investors are likely to watch subsequent price action and on‑chain flows closely to determine whether the current dip represents a temporary pullback or the beginning of a longer‑term trend reversal.
The information in this article is based on publicly available data from Google Trends, CoinMarketCap, and statements made by industry analysts on X. Readers are advised to conduct independent verification before making investment decisions.
Source: https://cointelegraph.com/news/bitcoin-google-search-volume-surges-btc-price-volatility?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
