Global Google searches for “Bitcoin” surged to a 12-month high as the cryptocurrency’s price briefly touched $60,000, its lowest level since October 2024. The spike in search interest, reaching a score of 100 on Google Trends, coincided with a sharp five-day price decline from over $81,500. Market observers note renewed retail interest and a positive Coinbase premium, while the Crypto Fear & Greed Index has fallen to an “Extreme Fear” level of 6.
Google search volume for the term “Bitcoin” surged over the past week as the asset’s price briefly fell to the $60,000 level for the first time since October 2024. Provisional data shows worldwide searches reached a score of 100 for the week starting Feb. 1, the highest level in the past year.
This search peak surpassed the previous high of 95 recorded in mid-November when Bitcoin slipped below $100,000. The indicator is commonly used to gauge retail interest, which typically spikes during significant price movements.
The increase comes as Bitcoin dropped from about $81,500 on Feb. 1 to roughly $60,000 within five days. It has since rebounded to $70,740 at the time of publication, according to CoinMarketCap.
Some market observers suggest the current price range may be drawing renewed retail attention. Bitwise head of Europe, André Dragosch, said in an X post, “Retail is coming back.”
Meanwhile, CryptoQuant’s head of research, Julio Moreno, noted U.S. investors are buying. He stated, “The Coinbase premium is now positive for the first time since mid-January.”
Other indicators suggest investors remain cautious. The Alternative.me Crypto Fear & Greed Index fell to an “Extreme Fear” score of 6, nearing levels not seen since June 2022.
This sentiment decline has led some to suggest it signals a buying opportunity. Crypto analyst Ran Neuner said, “every single metric is telling you that Bitcoin has never been more undervalued on a relative basis.”
