比特幣（BTC）接近歷史高（ATH），但Google趨勢數據顯示...

儘管比特幣（BTC）非常接近其歷史最高（ATH），但值得注意的是，與Google趨勢上與比特幣有關的搜索興趣仍然很低。

Bitcoin (BTC) is getting closer and closer to its all-time high (ATH), yet search interest related to the cryptocurrency on Google Trends remains at a very low level, comparable to the bear market period of 2022 when BTC was only trading around $16,000.

比特幣（BTC）越來越接近其歷史最高水平（ATH），但是與Google趨勢上的加密貨幣有關的搜索興趣仍然很低，與BTC僅交易約16,000美元的2022年熊市時期相當。

This striking contrast between Bitcoin’s surging price and the public’s indifference has sparked debates among crypto community members on X.

比特幣的飆升價格與公眾冷漠之間的這種顯著對比引發了X上加密社區成員之間的辯論。

Bitcoin price is approaching ATH but search volume is at record lows

比特幣價格即將接近ATH，但搜索量處於記錄低點

As of press time, Bitcoin is trading around $106,000. However, an X user pointed out that searches for the keyword “Bitcoin” on Google Trends have not risen correspondingly.

截至發稿時，比特幣的交易約為106,000美元。但是，X用戶指出，在Google趨勢上搜索關鍵字“比特幣”的搜索尚未相應上升。

Notably, the search volume is still at the same level as the 2022 bear market period when BTC was priced at around $16,000. This indicates that public interest in Bitcoin is currently very minimal, despite its value increasing more than sixfold since 2022.

值得注意的是，搜索量仍與2022年熊市時期的價格保持在同一水平，當時BTC的價格約為16,000美元。這表明，儘管自2022年以來，公共對比特幣的興趣目前非常少，但其價值增長了六倍以上。

This is an unusual signal as typically, when Bitcoin reaches new highs, attention from retail investors surges, often triggering a wave of FOMO.

通常，這是一個不尋常的信號，當比特幣達到新的高點時，散戶投資者的注意力通常會觸發FOMO浪潮。

Explaining this phenomenon, another X user noted that retail investors seem largely uninterested in Bitcoin’s price surge. According to this user, Bitcoin’s price increase alone is not enough to spark FOMO. Only when the altcoin market explodes will “new blood” – retail investors – truly enter the market. This creates an opportunity for large institutions to sell off and transfer risk to new investors.

在解釋這一現象時，另一位X用戶指出，散戶投資者似乎對比特幣的價格上漲不感興趣。根據該用戶的說法，僅比特幣的價格上漲不足以激發FOMO。只有當Altcoin市場爆炸時，零售投資者才真正進入市場。這為大型機構創造了機會，將風險賣給新投資者。

This perspective aligns with insights from Matrixport, which emphasized that medium- and long-term investors are the primary holders of Bitcoin. Meanwhile, retail investor participation remains very low.

這種觀點與Matrixport的見解相吻合，後者強調了中型和長期投資者是比特幣的主要持有人。同時，零售投資者的參與仍然很低。

The absence of retail investors might explain why Google Trends search volume hasn’t increased, even as Bitcoin nears its all-time high.

零售投資者的缺乏可能會解釋為什麼Google趨勢搜索量沒有增加，即使比特幣接近其歷史最高水平。

Besides, retail interest remains subdued compared to previous periods on Wikipedia as well. This indicates a lack of confidence and suggests that the market is not euphoric. HashKey Capital also noted that historically, whenever interest rates spike sharply, the market enters a state of euphoria, coinciding with price peaks.

此外，與Wikipedia的以前時期相比，零售利息仍然柔和。這表明缺乏信心，並表明市場不是欣快的。 Hashkey Capital還指出，從歷史上看，每當利率急劇上升時，市場就會進入欣快的狀態，與價格峰值一致。

Calm before the storm or a lack of market momentum?

在暴風雨前冷靜或缺乏市場動力？

Some voices in the crypto community are optimistic about this phenomenon. X user The_Prophet_ stated that the current Google Trends chart represents the “silence before the detonation.” They suggest that the public’s indifference could be a sign of a larger price surge on the horizon.

加密社區中的某些聲音對這種現像很樂觀。 x用戶the_prophet_表示，當前的Google趨勢圖表示“爆炸前的沉默”。他們認為，公眾的冷漠可能是地平線上價格漲幅較大的標誌。

This view is supported by X user SerSigma, who highlighted that Bitcoin’s volatility is currently at its lowest but won’t stay that way for long. According to this user, Bitcoin will continue to climb higher in the near future as the market begins to recognize its potential.

X用戶含糊的支持，他強調了比特幣的波動率目前處於最低狀態，但不會長期保持這種狀態。根據該用戶的說法，隨著市場開始認識到其潛力，比特幣將在不久的將來繼續攀升。

The lack of public interest, as reflected by Google Trends, presents both opportunities and risks for the Bitcoin market in 2025. On the positive side, the absence of retail investor participation means the market hasn’t been inflated by FOMO, helping Bitcoin avoid a price bubble like the one seen in 2021.

正如Google趨勢所反映的那樣，缺乏公共利益在2025年給比特幣市場帶來了機會和風險。從積極的一面來看，缺乏零售投資者的參與意味著FOMO並沒有使市場膨脹，幫助比特幣避免像2021年所看到的那樣的價格泡沫。

On the other hand, the lack of retail investors raises questions about the sustainability of the current rally. If Bitcoin continues to rise without widespread public participation, the market may lack the liquidity needed to maintain long-term growth.

另一方面，缺乏散戶投資者提出了有關當前集會的可持續性的疑問。如果比特幣在沒有廣泛參與的情況下繼續上升，那麼市場可能缺乏維持長期增長所需的流動性。

This is particularly significant given that large institutions currently hold the majority of Bitcoin. Without “new blood” entering the market, institutions may struggle to sell at high prices, potentially leading to a sharp price correction in the future.

鑑於目前大多數比特幣的機構佔據了大多數機構，這一點尤其重要。如果沒有“新血液”進入市場，機構可能會努力以高價出售，這可能會導致未來的價格較高的校正。

In the long term, Bitcoin is still expected to create significant market momentum. Many financial firms and major banks have issued optimistic forecasts for Bitcoin. Recently, HashKey Group predicted that BTC could surpass $300,000 in 2025.

從長遠來看，仍然可以預計比特幣會產生巨大的市場動力。許多金融公司和主要銀行對比特幣發行了樂觀的預測。最近，Hashkey Group預測，BTC在2025年可以超過300,000美元。