Analyst: Bitcoin search volume on Google drops to a five-year low, indicating waning retail interest
2026-10-29 05:32:28
CoinMeta data: According to Coin Bureau, the popularity of searching for Bitcoin on Google has dropped to a five-year low, and the current trading price of Bitcoin is near $81,000. Similar lows in September 2023 and 2024 coincide with local bottoms in Bitcoin prices. Retail interest in cryptocurrencies has waned, with Robinhood reporting a 55% year-over-year decline in crypto revenue, amounting to only $120 million in the third quarter. Additionally, since October 16, the number of Bitcoin wallets holding balances has decreased by about 30,000. Some analysts believe that this decline in retail interest could be a bullish signal, indicating that selling pressure may be easing. However, the bottom has not yet been confirmed, and $80,000 has become a key level for the market to digest the Federal Reserve's interest rate decisions and the mid-term elections.
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This content is for market information only and does not constitute investment advice.
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