Google Searches For Bitcoin Reach Lows Not Seen Since 2020 When Price Was At $10K

Google search interest for cryptocurrency-related terms, including "crypto," has been on the decline for the past two months, reaching levels not seen since late 2020.

What Happened: Google Trends data shows that the term "crypto" currently has a score of 17, indicating a substantial drop in search volume. 

The lower interest in cryptocurrencies also coincides with lower trading volumes on exchanges; according to Guy Turner, also known as "Coin Bureau Guy," trading volumes have reached a 32-month low.

Turner suggests that the fall in interest is related to a bear market in cryptocurrency. “Crypto search trends are at the lowest point they have been since December 2020. This also corresponds to exchange volumes which were at 32-month lows this past May," he tweeted.

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Why It Matters: The decline in search interest is most noticeable when it comes to Bitcoin BTC/USD. 

Google searches for "Bitcoin" have dropped to levels not seen since October 2020, when Bitcoin was priced at around $10,000. 

Price Action: At the time of writing, BTC was trading at $26,834.57, down 1.12% in the last 24 hours, according to Benzinga Pro.

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