Why Bitcoin’s Milestone $100K Breakthrough Doesn’t Stir Google Searches

Key Points

• Despite Bitcoin surpassing $100K, search interest remains low, indicating a lack of public excitement.
• Widening bid-ask spreads suggest that buyers are gaining control, potentially signaling a future breakout.

Bitcoin Surpasses $100K Amidst Low Search Interest

Despite Bitcoin topping $100K, Google’s search interest remains unchanged at 17, a level previously seen when Bitcoin was trading at $17K, $26K, and $54K.

The market sentiment appears subdued even though Bitcoin’s value has significantly increased. This could be an indication of apathy or disbelief among the public, rather than euphoria.

Buyer Momentum Indicated by Bid-Ask Spread

While public interest remains low, the spot market for Bitcoin is showing intent. The difference between bid and ask prices, which serves as a real-time measure of buying versus selling pressure, is rising.

If this metric returns to positive territory, it would be an obvious sign of buyer dominance. In the past, such shifts have often preceded significant price movements.

At the time of writing, Bitcoin was trading at $105,486 after facing rejection near the $106,000 level. The 9-day SMA acted as immediate resistance, while the RSI at 53 signaled weak but neutral momentum.

Despite a minor rebound in recent sessions, Bitcoin failed to reclaim its short-term moving average, indicating low buyer conviction.