Bitcoin Search Interest Skyrockets as BTC Blasts Past $70,000 Milestone

Google searches for 'Bitcoin' just spiked—again. The trigger? The world's largest cryptocurrency just punched through the $70,000 barrier, reigniting the public's digital gold rush.

The Signal in the Search Bar

Forget the ticker tape for a second. The real story often unfolds in the search bar. When retail interest surges, it's a classic sign of FOMO kicking into gear. It’s the digital age's version of a crowded trading floor—everyone scrambling for a piece of the action.

What $70,000 Really Means

Reclaiming this level isn't just a number on a screen. It's a psychological victory lap, a testament to stubborn resilience. It tells a story of recovery, of shaking off doubt, and of a market that refuses to stay down. For the crypto faithful, it's a loud, clear signal: the bull isn't done running.

The Wall Street Whisper

Let's be real—the suits on Wall Street are watching this, too. Every time Bitcoin makes a headline-grabbing move, it forces another round of awkward boardroom conversations. Another hedge fund manager has to explain to their clients why they're *not* exposed. It's a beautiful, cynical dance of old money trying to catch up.

So, the searches are up. The price is up. The narrative is back. Whether this is the start of the next leg or just another thrilling chapter in crypto's volatile saga, one thing's clear: Bitcoin has everyone's attention. Again.

Bitcoin volatility pulls retailers’ attention

The largest coin by market cap traded at $81,500 at the start of February, before tumbling to $60,000 within 5 days, according to CoinGecko pricing data. Bitcoin traders had not seen a drop that steep since October 2024. 

However, a price comeback inspired by retail buyers pushed the coin up 7.7% in the last 24 hours. At the time of this publication, the token had rebounded to $70,200, recovering a small chunk of the losses incurred in the week.

Bitwise Europe head André Dragosch sees the current price band as a sign that retail traders are back into the market. Moreover, institutions closed the week with positive spot BTC ETF netflows after three consecutive days of redemptions totaling over $1.3 billion, according to SoSoValue.

One analyst said American investors resumed buying after Bitcoin touched $60,000. “The Coinbase premium is now positive for the first time since mid-January,” Moreno wrote on X late Friday.

US investors are buying after Bitcoin touched $60K.

The Coinbase premium is now positive for the first time since mid-January pic.twitter.com/quIxCDFFvx

— Julio Moreno (@jjcmoreno) February 6, 2026

The Coinbase premium tracks price differences between Coinbase and offshore exchanges. A positive reading indicates stronger buying interest from US participants, which can influence a coin’s short-term momentum during volatile periods.

Still, the Crypto Fear & Greed Index from Alternative.me slid again on Saturday to an “Extreme Fear” score of 6. That level approaches readings last seen in June 2022, when the market was clouded by a period of severe stress and bearish tides.

Some research firms believe the recent rebound may not hold because it is a mere “counter-trend” rally market correction. Markus Thielen of 10X Research said Bitcoin could eventually test $50,000 following a near-term recovery.

“I think we are going to have a little counter-trend rally that might go sideways or bounce a little bit. But I think during the summer we make another low,” Thielen surmised. 

The latest decline also fully erased the so-called “Trump market” bitcoin price that had initially taken the coin to $100,000 after Donald Trump’s election victory in November 2024.

Market analysts signal price rebound could be short-lived

According to another analyst, the rebound fits the profile of a technical bounce, but is not yet enough to be considered as a defined bull run. A bounce is a temporary price recovery driven by short covering, portfolio rebalancing, and changes in trader sentiment during a market pullback.

These recoveries emerge after periods of heightened fear, when selling pressure pauses briefly. They can be sharp but short-lived if the underlying buying interest subsides, which is why traders treat them as tactical opportunities to cash out profits.

Bitcoin’s Spent Output Profit Ratio (SOPR), which measures whether coins moved on-chain are sold at a profit or loss, has not definitively dropped below the market bottom threshold. When SOPR drops below 1, it means holders are realizing losses and may decide to sell to limit the bloodshed.

According to XWIN Research, a drop in SOPR below 1 does not usually signal a final market low. It tends to appear during the early or mid phases of bearish cycles, which may feature short-term rebounds followed by selling pressure.

Since the SOPR has not firmly moved back above 1 during the price correction, coupled with limited spot-driven inflows, the analyst has deemed BTC’s comeback as just “an adjustment phase.”

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