Global search activity for the term “Bitcoin” climbed sharply over the past week as the asset briefly dropped to around $60,000 for the first time since October 2024.

Preliminary data from Google Trends indicates that worldwide searches reached a score of 100 for the week beginning Feb. 1, marking the highest level recorded over the past year. The previous high came with a score of 95 during the week of Nov. 16–23, when Bitcoin slipped below the psychologically important $100,000 mark for the first time in nearly six months.

Search trends are commonly monitored by market analysts as a proxy for retail engagement in Bitcoin and the broader crypto sector, with interest typically intensifying during periods of significant volatility, including major rallies and sharp corrections.

Retail attention returns as Bitcoin stabilizes

The spike in search activity coincided with Bitcoin falling from roughly $81,500 on Feb. 1 to near $60,000 within five days, before recovering to about $70,740 at the time of reporting. Over the past week, the asset recorded a decline of 11.51%.

Some observers interpret the current price range as a level that may be attracting renewed retail participation. Bitwise head of Europe André Dragosch wrote in an X post, “Retail is coming back.” At the same time, CryptoQuant head of research Julio Moreno noted increasing buying activity from US investors after Bitcoin touched $60,000. “The Coinbase premium is now positive for the first time since mid-January,” Moreno said.

Sentiment remains cautious despite renewed activity

Other indicators continue to point to lingering caution across the market. The Alternative.me Crypto Fear & Greed Index fell again on Saturday to an “Extreme Fear” reading of 6, approaching levels last seen in June 2022.

The sharp drop in sentiment has prompted some participants to interpret current conditions as a potential opportunity. Cryptocurrency analyst Ran Neuner stated in an X post that, “every single metric is telling you that Bitcoin has never been more undervalued on a relative basis.”

Sources:

https://cointelegraph.com/news/bitcoin-google-search-volume-surges-btc-price-volatility

https://trends.google.com/explore?geo=Worldwide&q=bitcoin&date=today%201-y

https://x.com/Andre_Dragosch/status/2019945687409164788

https://x.com/jjcmoreno/status/2019826990321426634

https://coinmarketcap.com/currencies/bitcoin/