Retail interest in the primary cryptocurrency seems to be fading as the worldwide Google searches for Bitcoin have dropped to yearly lows. In contrast, the NFT queries continue to increase, reaching a new all-time high recently.
BTC Google Searches on the Decline
Google searches are typically a good indicator of the preferences and behavior of retail investors. This is particularly true for the cryptocurrency industry. The number of queries on the world’s largest search engine usually follows the price fluctuations of the ever-volatile digital assets and bitcoin in particular.
However, it has its exceptions. For example, the searches reached a yearly high in mid-May after the asset had already peaked at $65,000 and right around the time when Elon Musk outlined his energy consumption fears and China reiterated its flat-out ban on BTC and mining.
The subsequent price retracement was mimicked by a decline of the searches before they headed upwards during the late October rally and the l
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