Google Searches Bitcoin Rise Amid BTC’s Record Price Milestone

Bitcoin Google searches have increased significantly as the price of the cryptocurrency hit another record high above $80,000 today.

This surge in interest reflects growing global attention as Bitcoin continues to gain traction among retail and institutional investors.

Bitcoin Searches on Google Trump Win Increases Bitcoin Interest

It is important to note that interest in cryptocurrencies has soared following Donald Trump’s victory in the US presidential election. His victory triggered a huge rally in Bitcoin and the rest of the market as his campaign promised support for the sector. Once a skeptic, Trump outlined several crypto-related policies in his campaign, including plans for a national Bitcoin reserve and a pledge to end the war on crypto regulation.

Although this proposed Bitcoin reserve would require legislation, which would likely push its realization until 2025, the community sees a clear path for BTC to become a treasury asset accepted by major corporations, governments and institutions.

As such, experts point to increased inquiries and search entries as signs of a new wave of interest from retail investors and an influx of new entrants into the market.

“state of euphoria”

Interestingly, Bitcoin’s impressive rally is playing out with minimal impact on volatility, as heavy profit-taking in long options has dampened any significant reaction. According to QCP Capital’s latest update, this contained volatility suggests that the market was already well-prepared for this bullish momentum. With Bitcoin breaking out of its multi-month range and clearing key resistance levels, the market is in a “euphoric” phase.

Perpetual funding rates are notably high and core yields have hit a seven-month high, indicating strong bullish sentiment. However, QCP remains cautiously optimistic, noting the risk of near-term pullbacks, particularly from potential leveraged releases. Historically, these sharp increases in core yields have been short-lived.

Meanwhile, the crypto trading firm expects spot prices to consolidate around current levels in the near term and volatility to ease as markets await key macro events this week, including the US CPI on Wednesday, the ‘PPI on Thursday and Fed Chairman Jerome Powell’s speech on Friday. , which could provide more insight into the likelihood of a rate cut in December.

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