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▲ Bitcoin (BTC), search, US/AI generated image
Americans' search interest in Bitcoin (Bitcoin, BTC) has plummeted to its lowest level in approximately five years. While 49.6 million Americans own Bitcoin, online interest was less than one-fifth of what it was during the February crash.
According to cryptocurrency specialized media Bitcoin.com on August 4 (local time), Google Trends search interest for 'Bitcoin' recorded 18 for the week ending August 1. Google Trends calculates relative interest by setting the highest search volume for a specified region and period as 100. This figure is the lowest since November 2022 and September-October 2023.
The peak of Bitcoin search interest over the past five years was in the first week of February. At that time, coinciding with a sharp drop in tech stocks, Bitcoin's price fell by approximately 30%, pushing it close to $60,000. Search interest surged to its peak of 100. Search volume in early August is only 18% of what it was then. Unlike when price crashes and fear caused an explosion in investor searches, the market recently shows a stronger wait-and-see attitude.
Although US President Donald Trump championed crypto-friendly policies, it has not led to sustained public interest. The US Senate is expected to hold a cloture vote on a bill to structure the US cryptocurrency market this week. However, the bipartisan support needed for the bill's passage has not been confirmed. On Saturday, victims lost over 1,300 BTC in a Coldcard hardware wallet incident, but search interest did not rebound.
Online search enthusiasm and the number of actual holders showed opposite trends. A survey by Bitcoin financial services firm River revealed that 49.6 million Americans own Bitcoin. This accounts for approximately one-fifth of the adult US population. Gold holders numbered 28.8 million, 20.8 million fewer than Bitcoin holders.
While Google search interest has fallen to a nearly five-year low, the number of Bitcoin holders in the US has surpassed gold investors. With policies and security incidents failing to boost search volume, the Bitcoin market has shown a trend of moving primarily around existing holders rather than public interest.
[Article Key Summary]
-US Bitcoin search interest fell to 18, marking its lowest level in approximately five years.
-Search interest in early August was only 18% of what it was in the first week of February, when Bitcoin plummeted by 30%.
-The number of Bitcoin holders in the US was 49.6 million, significantly exceeding gold holders at 28.8 million.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*
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