Bitcoin search volume on Google has long been a gauge of public interest, often reflecting Bitcoin price movement trends. Bitwise CEO Hunter Horsley recently pointed out a noteworthy shift. Despite the enduring stability of Bitcoin's price near $90,000, the search volume for "Bitcoin" on Google has been consistently low.

The decrease in Bitcoin search volume on Google Trends indicates a changing market dynamic. Data shows a significant drop in public interest from about 75 points to approximately 25 points over the past year. The trend reveals a decline in search activity following peak periods in 2017 and 2021, aligning with past Bitcoin bull markets, and has since plateaued at lower levels.

Hunter Horsley highlighted that the current surge in Bitcoin price is not primarily fueled by retail investors experiencing FOMO, but rather by institutional players. The expansion of investor diversity in the Bitcoin market, with institutions like BlackRock and Fidelity entering through Bitcoin ETFs, signifies a maturation phase for the cryptocurrency market. Retail investors are also engaging indirectly through institutional-grade investment options.

Factors contributing to the drop in Bitcoin search volume include the familiarity of Bitcoin as a concept after over a decade, resulting in decreased repetitive searches for information. Moreover, changes in information-seeking behavior, with users turning to alternative sources like AI tools and social media platforms for updates, have also played a role in the diminished search volume on Google.