The cryptocurrency market is facing a significant downturn in interest, as evidenced by the latest Google search data. With the search volume for the term 'crypto' reaching a one-year low, it appears that investor sentiment is waning as we approach 2025, a trend that analysts warn in the report.
Global Search Volume for 'Crypto' Drops
On Monday, the global search volume for 'crypto' dropped to 26, just two points above the one-year low of 24. This decline is mirrored in the United States, where the search volume also fell to 26, indicating a widespread lack of interest among potential investors.
Retail Interest in Cryptocurrencies Minimal
Mario Nawfal highlighted that retail interest in cryptocurrencies is currently minimal, attributing this to the recent market crashes that have shaken the confidence of retail traders. The low search volumes serve as a stark reminder of the broader skepticism surrounding the crypto market, which is still grappling with the aftermath of an October flash crash that resulted in significant financial losses.
As the cryptocurrency market grapples with declining interest, Ethereum is experiencing a significant downturn in profitability, with less than 60% of its supply currently in profit. For more details, see the full article here.
