Bitcoin search interest continues to decline, reaching bear market lows. New data indicates diminishing retail enthusiasm.
Decline in Bitcoin Search Interest
According to Google Trends data, interest in the search term 'Bitcoin' has dropped to 31 out of 100 as of October 12th. This occurs as Bitcoin recovers and achieves an impressive rally, peaking at around $63,400.
Search Interest Data
Bitcoin search interest peaked at 100 in early March as Bitcoin's price reached an all-time high of over $73,000. However, retail enthusiasm is waning: current interest is at 31, down by 59.2% compared to early 2024. Nigeria and El Salvador show strong interest, but global outlook is less optimistic.
What Happened to 'Uptober'?
Despite Bitcoin's historical price surges in October, its current price remains below $60,000. This has disappointed the crypto community, as October was known as 'Uptober'.
The decline in search interest indicates a shift in Bitcoin's perception. While certain countries remain interested, the overall trend may signal a maturing industry or the need for new catalysts.