Bitcoin Search Interest Hits 12-Month High as Price Drops to $60K and Rebounds
Bitcoin search interest surged to a 12-month high on Google Trends after the price fell from roughly $81,500 on Feb 1 to a five-day low near $60,000, then recovered to about $70,700. The spike in searches indicates renewed retail attention. On-chain and market indicators paint a mixed picture: Crypto Fear & Greed sits at 6 (“Extreme Fear”), and Bitcoin’s realized profit metrics (SOPR) remain below recovery thresholds, suggesting many coins are still being sold at a loss. Institutional signals were mixed but showed short-term improvement — US spot ETF flows turned positive after several days of net redemptions exceeding $1.3bn, and the Coinbase premium flipped positive for the first time since mid-January, implying increased US retail buying around the $60k area. Analysts are divided: some view the dip as a buying opportunity, while others warn the move could be a counter-trend bounce amid macro uncertainty and predict potential further downside later in the year. Key takeaways for traders: elevated retail interest (Google Trends spike) and temporary uplift in ETF flows and Coinbase premium may support short-term buying opportunities, but weak on-chain sentiment (SOPR < 1), extreme fear readings, and macro risks argue for caution — favor tactical trades and risk management rather than assuming a durable trend reversal.
Neutral
The combined coverage shows conflicting signals that balance out to a neutral short-term price outlook. Positive signs: a Google Trends spike signals renewed retail interest, US spot ETF flows briefly turned positive, and the Coinbase premium flipped positive — all of which can support short-term buying pressure and intraday or swing trading opportunities. Negative signs: the Crypto Fear & Greed Index at 6 (“Extreme Fear”), SOPR below recovery thresholds (coins being sold at losses), and analyst warnings about macro sensitivity point to continued downside risk and weak conviction among holders. Historically, similar sharp sell-offs followed by quick rebounds have often produced counter-trend bounces rather than sustained bull runs, especially when on-chain sentiment remains weak. Therefore, traders should expect increased volatility and tactical opportunities (scalp/swing trades around support/resistance) but avoid large directional positions without confirmation of trend recovery (e.g., sustained ETF inflows, SOPR recovery above 1, and improved sentiment). Risk management — position sizing, stop losses, and watching macro news — is advised.