Bitcoin Hits $100K, Yet Google Couldn’t Care Less – Here’s Why

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  • Bitcoin hits $100K, yet search interest remains at a thrilling 17.
  • Bid-ask spreads are widening, but don’t hold your breath for fireworks just yet.

So, Bitcoin is setting records, but the public? Meh, not so much.

Despite BTC breaching the $100K mark, Google searches for it have flatlined at a staggering 17—exactly where they were when Bitcoin was a bargain at $17K, $26K, and $54K. One might think a six-figure price tag would spark a frenzy, but alas, market sentiment is as enthusiastic as a cat in a bath.

The widening bid-ask spread hints that buyers might be flexing their muscles, but don’t hold your breath for a wild ride just yet. The momentum? Still cautious, like a cat on a hot tin roof.

Bitcoin: When $100K Doesn’t Trend

Despite Bitcoin crossing the legendary $100K milestone, the world isn’t even giving it a second glance. According to Alphractal data, Google search interest is stuck at a pedestrian 17, the same as when BTC was a mere bargain at much lower rates.

The Buyer’s Secret Weapon?

While the public slumbers, Bitcoin’s spot market is quietly showing signs of life. The bid-ask spread, the financial equivalent of a game of tug-of-war, is widening again. When it shifts to positive territory, it’s a surefire sign that buyers are calling the shots.

And guess what? This shift has often come right before big price moves. So yes, the market’s trying to tell you something. It’s not quite a raucous party, but there are definitely some vibes brewing.

This widening of the spreads is a pressure cooker in the making. With sellers stepping back and buyers making more aggressive moves, the shifts in the order book could be the harbinger of the next upward spike. Don’t say we didn’t warn you when the action finally kicks off.

In the end, this is a technical tell: the market isn’t as asleep as the headlines suggest. In fact, it’s just resting its eyes.

BTC Momentum: Cautiously Poking the Bear

As of now, Bitcoin’s trading at $105,486 after being gently rejected at the $106,000 level. How polite.

The 9-day SMA acted as an impassable wall, while the RSI at 53 whispers weak but neutral momentum. Bitcoin tried to bounce, but failed to break through its short-term moving average, indicating a serious lack of buyer conviction. Meanwhile, the OBV remains negative—because apparently, volume is not invited to this party.

So unless Bitcoin decides to break above $106,500 like it’s running for office, don’t expect any fireworks in the short term. For now, BTC is stuck in a range, waiting for the next big thing—whenever that is.

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2025-06-03 12:17