關鍵見解：比特幣設置了新的歷史最高水平，但Google搜索興趣仍然靜音

比特幣在今天的美國會議上，比特幣設定了新的歷史最高水平，上升至109,486美元。此舉超過了一月份記錄的108,268美元的先前高峰

Bitcoin hit a new all-time high of $109,486 during the early U.S. session on Wednesday. This new peak surpasses the previous high of $108,268, which was reached in January around Donald Trump’s inauguration.

在周三的美國會議上，比特幣達到了新的109,486美元的新歷史高點。這個新的山峰超過了先前的108,268美元，該高峰於1月在唐納德·特朗普就職典禮上達到。

Bitcoin price has surged by more than 46% since April amid ongoing concerns over global trade tensions and potential U.S. tariffs.

自4月以來，比特幣的價格上漲了46％以上，這是由於對全球貿易緊張局勢和潛在的美國關稅的持續擔憂。

Despite the sharp price move, search interest in Bitcoin has remained low in the U.S. and is still lagging. It is currently at 75 on Google Trends, which is still well below historical levels.

儘管價格轉移急劇，但對比特幣的搜索興趣在美國仍然很低，並且仍在落後。目前在Google趨勢上處於75歲，該趨勢仍遠低於歷史水平。

Bitcoin price vs Google Search Activity

比特幣價格與Google搜索活動

比特幣價格與Google搜索活動

While BTC price is setting new highs, online search interest in the U.S. isn’t following the same path.

儘管BTC價格正在設定新的高點，但在線搜索興趣並沒有遵循同一道路。

Bitcoin’s current search interest on Google Trends is 30, which is still low compared to the 75 level it reached in late 2024. The previous high was hit when Bitcoin neared its record price at the time, and the sustained elevated volumes signaled strong public attention and likely strong retail engagement.

比特幣目前對Google趨勢的搜索興趣為30，與2024年底達到的75水平相比，它仍然很低。當比特幣接近當時的創紀錄價格時，先前的高點受到了打擊，持續的量增加了強烈的公眾注意力，可能會引起強烈的關注和強烈的零售參與。

But according to Ben Schoelzel, a crypto analyst at CoinsDesk, Google Trends data over five years shows that the price and public curiosity are decoupling.

但是，根據Coinsdesk的加密分析師Ben Schoelzel的說法，Google趨勢數據在五年內顯示出了價格和公眾好奇心正在脫鉤。

During past rallies, search spikes would coincide with new highs, signaling the role of retail traders in price movements.

在過去的集會中，搜索尖峰將與新的高點相吻合，這表明零售商人在價格變動中的作用。

However, today’s price rally is unfolding with far less visible retail interest. Despite Bitcoin now trading above its January peak, the sustained low level of search behavior suggests limited engagement from casual or first-time participants.

但是，今天的價格集會正在展開，零售利息差得多。儘管比特幣現在的交易量超過了1月的高峰，但持續的較低搜索行為表明休閒或初次參與者的參與度有限。

Some online communities have speculated that learning patterns may be shifting toward platforms like ChatGPT or Grok. But Sigel clarified that Google Trends measures the relative frequency of searches across the web, not the total volume of learning interest.

一些在線社區推測，學習模式可能正在轉向諸如Chatgpt或Grok之類的平台。但是Sigel澄清說，Google趨勢可以衡量網絡上搜索的相對頻率，而不是學習興趣的總數。

The decline in search activity isn’t simply because users are moving to new platforms. It also part of a broader trend affecting overall search behavior.

搜索活動的下降不僅僅是因為用戶正在轉向新平台。它也是影響整體搜索行為的更廣泛趨勢的一部分。

Crypto analyst: Sentiment shifts in response to market

加密分析師：響應市場的情緒轉變

加密分析師：響應市場的情緒轉變

Discussing the market trends, independent analyst CryptoCon pointed out recent shifts in sentiment in response to the unfolding market conditions.

在討論市場趨勢時，獨立分析師Cryptocon指出了對不斷發展的市場狀況的最新情緒轉變。

He noted that many investors closed out their positions earlier this year amid warnings of a potential bear market or looming economic downturn.

他指出，由於對潛在的熊市或迫在眉睫的經濟衰退的警告，許多投資者在今年早些時候關閉了自己的立場。

With many narratives suggesting an impending recession or market crash, which never materialized, and Bitcoin continuing its ascent, CryptoCon explained that these widely circulated fears induced many holders to reduce their exposure as Bitcoin approached cycle lows.

許多敘述表明即將發生的衰退或市場崩潰，從未實現，而比特幣繼續上升，Cryptocon解釋說，隨著比特幣接近循環低點，這些廣泛散發的恐懼引起了許多持有人的暴露。

Consequently, they may have missed the opportunity to capitalize on the subsequent rally to new highs. He highlighted that historical market patterns have once again asserted themselves, referencing previous cycles that began under similar circumstances.

因此，他們可能錯過了利用隨後的新高高集會的機會。他強調說，歷史市場模式再次宣稱自己，提到了以前在類似情況下開始的周期。

While not providing specific price predictions, CryptoCon indicated that public perception has yet to fully catch up with the recent trends in the crypto market data.

儘管沒有提供特定的價格預測，但Cryptocon表示，公眾的看法尚未完全趕上加密市場數據的最新趨勢。

This stark contrast between sentiment and performance underscores a broader disconnect between traditional market psychology and the ongoing price action.

情感和表現之間的這種形成鮮明的對比突顯了傳統市場心理學與持續的價格行動之間的更廣泛的脫節。

As narratives rapidly shift from bearish to bullish, and past assumptions about the market’s directionality are quickly challenged, it highlights how quickly investing advice can become outdated in the dynamic landscape of crypto trading.

隨著敘事迅速從看跌變為看漲，過去關於市場方向性的過去的假設迅速挑戰，它突出了投資建議在加密貨幣交易的動態景觀中的迅速過時。

Glassnode: Logarithmic Milestones (Realized Cap)

玻璃節：對數里程碑（已實現的帽子）

玻璃節：對數里程碑（已實現的帽子）

Bitcoin’s price is rising, but its long-term capital inflow is slowing, according to Glassnode.

GlassNode稱，比特幣的價格正在上漲，但其長期資本流入正在放緩。

The crypto analytics firm’s “Logarithmic Milestones (Realized Cap)” chart shows the trend in BTC’s realized capitalization over the years. This measure indicates the value of each coin at its last on-chain transaction price, providing an estimation of the actual capital invested.

加密分析公司的“對數里程碑（已實現的上限）”圖顯示了BTC多年來實現資本化的趨勢。該措施表明每個硬幣在其最後一次鏈交易價格上的價值，提供了對實際投資的實際資本的估計。

From early 2011 to February 2013, Bitcoin’s realized cap underwent a rapid ascent from $1 Million to $1 Billion. This exponential growth showcases the incredible speed of cryptocurrency adoption during its nascent stages.

從2011年初到2013年2月，比特幣實現的CAP從100萬美元迅速上漲至10億美元。這一指數增長展示了在其新生階段採用加密貨幣的令人難以置信的速度。

By November 2013, it had reached $10 Billion. However, it took until May 2017 to hit $100 Billion, signaling a shift to slower accumulation.

到2013年11月，它已達到100億美元。但是，直到2017年5月才達到1000億美元，這表明累積較慢。

According to Glassnode’s 2025 data, the metric is now nearing the $1 Trillion milestone. Notably, the time taken to progress from $100 Billion to $1 Trillion has spanned almost six years.

根據GlassNode的2025數據，該指標現在接近1萬億美元的里程碑。值得注意的是，從1000億美元到1萬億美元的進展時間已經跨越了六年。

This deceleration in accumulation over time signifies that increasingly larger amounts of capital are needed to reach each successive milestone.

隨著時間的流逝，這種積累的減速表明，要達到每個連續的里程碑需要越來越多的資本。

The flattening of the curve on the chart highlights Bitcoin’s transition from a speculative asset to a more stable, macroeconomic asset. This shift is marked by more consistent and sustained capital flows, reflecting its role as a store of value and a heating asset class.

圖表上曲線的變平突出了比特幣從投機資產到更穩定的宏觀經濟資產的過渡。這種轉變以更加一致和持續的資本流量為標誌，反映了其作為價值存儲和供暖資產類別的作用。