Google search volume for “Bitcoin” surges due to $60,000 crash

Google search volume for the term “Bitcoin” has skyrocketed over the past week as the asset’s price briefly fell to the $60,000 level for the first time since October 2024.

Preliminary data from Google Trends shows that global searches for “Bitcoin” reached 100 in the week starting February 1, the highest level in 12 months.

The previous peak was a score of 95 during the week of November 16-23, when Bitcoin (BTC) fell below the psychological $100,000 level for the first time in nearly six months.

Google search interest is one of the metrics commonly used by crypto analysts to gauge individual interest in Bitcoin and the broader cryptocurrency market, and typically spikes during significant price movements, especially large increases to all-time highs or sudden declines.

The rally comes after Bitcoin fell from about $81,500 on February 1 to about $60,000 within five days, before recovering to $70,740 at the time of publication, according to CoinMarketCap.

Some market observers have suggested that the current price range may be attracting renewed attention from a broader range of retail customers. “Retail is coming back,” Andre Dragos, head of Bitwise Europe, told XPost on Saturday.

Meanwhile, Julio Moreno, head of research at CryptoQuant, said in an X post on Saturday that US investors are buying Bitcoin after it hit $60,000. “Coinbase premiums have turned positive for the first time since mid-January,” Moreno said.