Bitcoin Hits $100K: Why Google Searches Remain Flat

Bitcoin recently broke the $100,000 barrier, a significant milestone. However, Google searches for BTC remain surprisingly flat, defying expectations. This article explores the reasons behind this muted public response and examines what the underlying market data suggests.

Bitcoin's $100K Milestone: A Quiet Celebration

Despite Bitcoin's price reaching six figures, Google search interest remains stagnant at 17 points. This is notably unchanged from when BTC was trading at significantly lower prices such as $17,000, $26,000, and $54,000. This lack of public excitement suggests a prevailing market sentiment of apathy or disbelief rather than euphoria. This muted response aligns with Bitcoin's gradual decline since its all-time high of $111,000.

Data Source: Alphractal

Historically, sharp corrections or significant price surges tend to reinvigorate retail investor interest. Until such a catalyst appears, Bitcoin's upward movement remains quiet but persistent. This contrasts with past price movements and suggests a shift in investor behavior.

Technical Indicators: Building Pressure Beneath the Surface

Although public interest is subdued, Bitcoin's spot market is revealing crucial clues. The widening bid-ask spread, an indicator of buying versus selling pressure, is increasing. If this metric moves into positive territory, it will clearly signal buyer dominance, a key precursor to significant price movements in the past. This implies building pressure, suggesting a potential breakout is imminent.

Data Source: Alphractal

Cautious Momentum: Range-Bound Trading

At the time of writing, Bitcoin traded at $105,486 after facing resistance near $106,000. The 9-day Simple Moving Average (SMA) acted as immediate resistance, while the Relative Strength Index (RSI) at 53 indicated weak but neutral momentum.

Data Source: TradingView

Despite a minor rebound, Bitcoin failed to reclaim its short-term moving average, highlighting a lack of strong buyer conviction. The On-Balance Volume (OBV) remained negative, further supporting the idea of limited volume support. Unless Bitcoin decisively breaks above $106,500, near-term upside potential appears limited. For now, the price action is largely range-bound, lacking a clear catalyst for a sustained rally.

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