Fabio Amaya
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Bitcoin has reached consecutive all-time highs this week, but retail investors seem reluctant to return to the market, according to a cryptocurrency researcher.
However, demand for Bitcoin (BTC) spot exchange-traded funds (ETFs) is rising, recording daily inflows of over $1 billion on Thursday and Friday, the first time this has occurred on two consecutive days.
Bitwise's head of research, André Dragosch, said in a post on X on Friday: “Bitcoin is at new all-time highs, but retail investors are notably absent,” pointing to the lack of interest in Google searches for Bitcoin despite the asset reaching consecutive all-time highs this week.
Global search interest on Google for the term Bitcoin increased by 8% in the week of July 6 to 12 compared to the previous week, from June 29 to July 5. The increase coincided with Bitcoin surpassing its previous all-time high of $111,970 on Wednesday and an additional rise to $118,780 on Friday, according to data from Google Trends and CoinMarketCap.
However, search interest for Bitcoin is 60% lower than in the week of November 10 to 16, 2024, which was the week after Donald Trump won the U.S. presidential elections.
That week was followed by a month-long surge that drove Bitcoin to reach $100,000 for the first time in history on December 5.
However, demand for Bitcoin (BTC) spot exchange-traded funds (ETFs) is rising, recording daily inflows of over $1 billion on Thursday and Friday, the first time this has occurred on two consecutive days.
Bitwise's head of research, André Dragosch, said in a post on X on Friday: “Bitcoin is at new all-time highs, but retail investors are notably absent,” pointing to the lack of interest in Google searches for Bitcoin despite the asset reaching consecutive all-time highs this week.
Global search interest on Google for the term Bitcoin increased by 8% in the week of July 6 to 12 compared to the previous week, from June 29 to July 5. The increase coincided with Bitcoin surpassing its previous all-time high of $111,970 on Wednesday and an additional rise to $118,780 on Friday, according to data from Google Trends and CoinMarketCap.
However, search interest for Bitcoin is 60% lower than in the week of November 10 to 16, 2024, which was the week after Donald Trump won the U.S. presidential elections.
That week was followed by a month-long surge that drove Bitcoin to reach $100,000 for the first time in history on December 5.
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