Source: Cointelegraph
Original: “Google Search Volume for Bitcoin Flat as BTC Nears New Highs - Where Are Retail Investors?”
Retail traders of Bitcoin (BTC) are known for entering the market during periods of exuberance, typically after strong monthly gains or new all-time highs. This time is no exception, as Bitcoin's price approached $104,000 on May 14, while public interest and retail activity continued to lag.
Analysts estimate that by 2025, retail investors will be the largest net sellers of BTC, while institutions will be the primary buyers. However, if historical patterns hold, retail buying interest may surge about a week after Bitcoin's price breaks above $109,350.
According to River's estimates, individual investors sold a total of 247,000 BTC throughout 2025, which translates to approximately $23 billion at the average price during that period. Meanwhile, Michael Saylor's Strategy accounted for 77% of the 157,000 BTC acquired by corporations that year.
The current "Bitcoin" search trend is comparable to levels seen in June 2024, when BTC traded around $66,000 after failing to break above $73,000 for three months.
Similarly, according to data from The Block, the Coinbase app currently ranks 15th in the financial category of the US App Store, which is comparable to its 20th place ranking in June 2024.
If mobile app rankings and "Bitcoin" Google search trends can serve as indicators of retail interest, the last peak in demand occurred on November 15, 2024, when the Coinbase app surged from 40th to 5th place in less than two weeks. At the same time, search activity spiked to its highest level in over two years.
The excitement among retail investors coincided with Bitcoin breaking its previous all-time high of $73,757 on November 6, 2024, with enthusiasm peaking nine days later. Although retail traders missed most of the gains that began a month earlier from the $67,000 level, the bullish trend continued, with Bitcoin soaring to $107,000 in mid-December 2024.
A similar surge in retail demand occurred on March 9, 2024, when the Coinbase app became the fourth most downloaded app in the US financial category, having ranked only 35th two weeks prior. At the same time, "Bitcoin" Google search interest reached its highest level in 20 months, approximately six days after Bitcoin broke the previous record closing price of $68,000 set in November 2021.
The surge in retail interest in March 2024 followed a 56% price increase within 30 days, as BTC climbed from $43,100 to $68,100. Compared to the breakout in November 2024, the following seven months saw price volatility, with Bitcoin struggling to maintain levels above $70,000. Retail traders often react to historical highs, but this typically means they miss out on most of the upward potential.
The net outflow when Bitcoin trades 5.5% below its historical high further confirms the "Bitcoin" search trend and Coinbase app ranking, supporting the view that retail demand tends to emerge about a week after breaking previous historical highs.
Related: Surge in Capital Inflows, Bitcoin (BTC) Bulls Target New All-Time High Next Week
This article is for general informational purposes only and should not be considered legal or investment advice. The views, thoughts, and opinions expressed here are solely those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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