Bitcoin is currently trading near $104,000, approaching new all-time highs, yet retail investor interest appears to be waning, as evidenced by Google search volumes for “Bitcoin” hitting their lowest point in six months. This decline in search activity mirrors levels last seen in June 2024, when Bitcoin was priced around $66,000 and struggling to break above $73,000.
Further signs of subdued retail enthusiasm include the Coinbase app’s fall to 15th place in the U.S. App Store finance category, a ranking similar to mid-2024 figures, indicating fewer new retail users engaging with Bitcoin trading platforms. Historically, retail interest tends to spike about a week after Bitcoin surpasses previous all-time highs, suggesting that a surge in retail demand could still materialize once Bitcoin crosses the $109,350 threshold.
Data from 2025 reveals that retail investors have been net sellers of Bitcoin, offloading approximately 247,000 BTC-equivalent to around $23 billion, while institutional players have dominated buying activity. Notably, Michael Saylor’s acquisition strategy accounted for 77% of the 157,000 BTC purchased by professional entities this year, highlighting a shift in market control from retail to institutional hands.
Analysts interpret the current low Google Trends index for Bitcoin, which has dropped to around 30 points-the lowest in 2025-as a sign of diminished public interest amid market volatility. However, some experts suggest this lull could precede a significant bull run, as historically, Bitcoin price surges have been accompanied by spikes in search interest.
In summary, despite Bitcoin’s strong price performance in 2025, retail investor engagement measured through Google searches and app rankings remains muted, reflecting a cautious or waiting stance among individual investors while institutions accumulate.
