The global search interest for Bitcoin has significantly declined, halving year over year, despite the cryptocurrency reaching an impressive price peak of $126,080. This unexpected trend raises questions about the current dynamics in the cryptocurrency market.
Data reveals that while Bitcoin achieved record prices, public engagement has markedly diminished. According to Google Trends, searches for the term “Bitcoin” have plummeted to multi-year lows. Notably, even with prices maintaining above $120,000 for a considerable part of last year, the fear of missing out (FOMO) among retail investors appears to have dissipated.
This disconnect between rising prices and diminishing search interest implies a shift in market behavior, suggesting that institutional players may be driving recent price movements. Analyst and developer Jameson Lopp highlighted a similar trend on social media, noting a 32% decrease in posts mentioning “Bitcoin” on platform X. The total number of posts has dropped to approximately 96 million, despite occasional spikes during significant political announcements.
One factor contributing to this waning interest could be the harsh market correction observed on October 10, when over $19 billion in leveraged positions were liquidated. Such mass liquidations often demoralize retail traders, leading them to disengage from both news searches and social media discussions.
Current sentiment in the market remains cautious, as reflected in the Crypto Fear & Greed Index, which has lingered in the “fear” or “extreme fear” categories for several weeks. This phenomenon is unusual given that Bitcoin prices have rebounded toward $97,000, yet many investors seem to be bracing for another downturn rather than celebrating the recovery.
Interestingly, while the broader public interest may be waning, key figures in the Bitcoin community continue to be active. Michael Saylor, chairman of Strategy, has been particularly vocal, sharing over 1,200 messages related to the network in 2025, maintaining an optimistic tone in 97% of his communications. Similarly, Adam Back, head of Blockstream, has engaged extensively online, posting over 11,450 updates, focusing on crucial topics such as code security and potential threats from quantum computing.
In conclusion, while retail enthusiasm for Bitcoin may have faded, institutional interest and technical discussions persist, indicating a complex and evolving landscape in the cryptocurrency sector.
