The BTC Google searches get down to the lowest levels since 2020 as the retail interest in the cryptocurrency seems to be fading as well so let’s read more in today’s latest BTC news.
In a lien with the lack of massive price movements from BTC, the BTC google searches get down to levels not seen in over a year. The popular BTC Fear and Greed Index settled in a fear territory despite the BTC two-day recovery after the below $40K levels. The reports show the spike in whale activity towards the primary cryptocurrency but it seems that the demand from the retail investors declined in the past few months according to the data from Google Trends.
The number of queries on the world’s biggest search engine usually shows the behavior of smaller investors that tend to arrive at the scene amid the biggest substantial bull runs which was the case back in late 2017 when BTC spiked to the ATH at $20,000. as the asset went into a long-bear market, the searches dissipated and something similar happened in the last year’s price increase when BTC went on a tear and peaked at $69,000.
The cryptocurrency started retracing once again and led to a 50% decline in half a year which is expected as Google Trends data shows that the BTC searches dropped and declined to low levels seen in December 2020. The Bitcoin Fear and Greed Index estimated the general sentiment in the crypto community by examining different factors like price volatility, BTC dominance, Surveys, and trading volume.
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The final results are displayed on a 0-100 basis where zero is extreme fear and 100 is extreme greed. When BTC was marching towards $50,000 and the metric went into extreme greed for the first time since November but as BTC started to cool off and dumped below $40K in April as the index went into extreme fear.
It shows only fear today but BTC managed to recover the Monday retracement and hit the January 2021 ATH of $42,000.
As recently reported, According to the Google Trends data, people across the world have been keen to find out more about the ETH merge that google searches for it once peaked in popularity at once. Ethereum Merge was about 21% as popular as it is now and the explosion of searches after the data made the term hit a peak in popularity across the world on March 20.
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