- Despite Bitcoin topping $100K, search interest remained low.
- Bid-ask spreads and technicals hint at building pressure, but momentum remains cautious and range-bound.
Bitcoin’s [BTC] breaking records, but Google’s barely batting an eye.
Search interest remains at 17, unchanged from when BTC was at $17K, $26K, and $54K. Now, despite Bitcoin surpassing $100K, market sentiment appears muted—but the charts tell a different story.
Widening bid-ask spreads indicate that buyers are gaining control, signaling a potential breakout ahead.
Bitcoin: When $100K doesn’t trend
Despite Bitcoin crossing six figures, the world isn’t googling it. Alphractal data has revealed that recent search interest has slumped to just 17 points, matching levels from when BTC traded at much lower rates.
The lack of public excitement suggests Bitcoin is in a phase of apathy or disbelief, rather than euphoria. This aligns with BTC’s gradual decline since its $111K all-time high (ATH) and its muted price action.
If history repeats itself, a sharp correction or euphoric surge may be needed to reignite retail interest.
Until then, Bitcoin’s rally continues—quiet but persistent.
Bid-Ask spread hints at buyer momentum
While attention stays muted, Bitcoin’s spot market is showing intent.
The difference between bid and ask prices – a proxy for real-time buying versus selling pressure – is rising again. If the metric returns to positive territory, it will be a clear sign of buyer dominance.
So far, that shift has preceded notable price moves.
In this context, widening spreads are a pressure build-up. With sellers retreating and buyers stepping in more aggressively, the order book’s shifts could foreshadow the next leg up.
It’s a technical tell that the market isn’t as quiet as the headlines suggest.
BTC momentum is still cautious
At press time, Bitcoin traded 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. Meanwhile, at press time, OBV remained negative, showing a lack of broad volume support.
Unless BTC breaks decisively above $106,500, short-term upside is likely capped. For now, price action appears range-bound, with no clear catalyst for a sustained rally in the near term.