Bitcoin (BTC) search interest has dropped to bear market lows, according to Google Trends data, with a score of 31 on October 12, down from 76 during Bitcoin ETF approval week earlier this year.
Despite BTC’s recent rally, peaking at $63,400, retail enthusiasm has waned, marking a 59.2% decline in year-to-date search interest. Nigeria leads in global search interest, followed by El Salvador, Switzerland, Slovenia, and Austria.
The overall drop suggests a maturing market or a need for new catalysts. Despite Bitcoin’s historical strength in October, its price remains stagnant, briefly dipping below $60,000 as traders await the U.S. election results.
Bitcoin (BTC) is facing delays in entering a bull market due to concerning Consumer Price Index (CPI) data and new legal challenges. CryptoQuant’s founder warns that if Bitcoin remains in its current sideways phase for two more weeks, it could encounter an unprecedented situation.
Currently, Bitcoin is on track for its longest period of stagnation during a halving year, with only 14 days left to follow historical patterns from previous halvings. If past trends hold, BTC could potentially experience a rapid surge within this timeframe, according to CEO Ki Young Ju.
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