关键见解：比特币设置了新的历史最高水平，但Google搜索兴趣仍然静音

比特币在今天的美国会议上，比特币设定了新的历史最高水平，上升至109,486美元。此举超过了一月份记录的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.

在周三的美国会议上，比特币达到了新的109,486美元的新历史高点。这个新的山峰超过了先前的108,268美元，该高峰于1月在唐纳德·特朗普就职典礼上达到。

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

自4月以来，比特币的价格上涨了46％以上，这是由于对全球贸易紧张局势和潜在的美国关税的持续担忧。

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.

尽管价格转移急剧，但对比特币的搜索兴趣在美国仍然很低，并且仍在落后。目前在Google趋势上处于75岁，该趋势仍远低于历史水平。

Bitcoin price vs Google Search Activity

比特币价格与Google搜索活动

比特币价格与Google搜索活动

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

尽管BTC价格正在设定新的高点，但在线搜索兴趣并没有遵循同一道路。

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.

比特币目前对Google趋势的搜索兴趣为30，与2024年底达到的75水平相比，它仍然很低。当比特币接近当时的创纪录价格时，先前的高点受到了打击，持续的量增加了强烈的公众注意力，可能会引起强烈的关注和强烈的零售参与。

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，根据Coinsdesk的加密分析师Ben Schoelzel的说法，Google趋势数据在五年内显示出了价格和公众好奇心正在脱钩。

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

在过去的集会中，搜索尖峰将与新的高点相吻合，这表明零售商人在价格变动中的作用。

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，今天的价格集会正在展开，零售利息差得多。尽管比特币现在的交易量超过了1月的高峰，但持续的较低搜索行为表明休闲或初次参与者的参与度有限。

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.

一些在线社区推测，学习模式可能正在转向诸如Chatgpt或Grok之类的平台。但是Sigel澄清说，Google趋势可以衡量网络上搜索的相对频率，而不是学习兴趣的总数。

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.

搜索活动的下降不仅仅是因为用户正在转向新平台。它也是影响整体搜索行为的更广泛趋势的一部分。

Crypto analyst: Sentiment shifts in response to market

加密分析师：响应市场的情绪转变

加密分析师：响应市场的情绪转变

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

在讨论市场趋势时，独立分析师Cryptocon指出了对不断发展的市场状况的最新情绪转变。

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，由于对潜在的熊市或迫在眉睫的经济衰退的警告，许多投资者在今年早些时候关闭了自己的立场。

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.

许多叙述表明即将发生的衰退或市场崩溃，从未实现，而比特币继续上升，Cryptocon解释说，随着比特币接近循环低点，这些广泛散发的恐惧引起了许多持有人的暴露。

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，他们可能错过了利用随后的新高高集会的机会。他强调说，历史市场模式再次宣称自己，提到了以前在类似情况下开始的周期。

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.

尽管没有提供特定的价格预测，但Cryptocon表示，公众的看法尚未完全赶上加密市场数据的最新趋势。

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

情感和表现之间的这种形成鲜明的对比突显了传统市场心理学与持续的价格行动之间的更广泛的脱节。

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.

随着叙事迅速从看跌变为看涨，过去关于市场方向性的过去的假设迅速挑战，它突出了投资建议在加密货币交易的动态景观中的迅速过时。

Glassnode: Logarithmic Milestones (Realized Cap)

玻璃节：对数里程碑（已实现的帽子）

玻璃节：对数里程碑（已实现的帽子）

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

GlassNode称，比特币的价格正在上涨，但其长期资本流入正在放缓。

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“对数里程碑（已实现的上限）”图显示了BTC多年来实现资本化的趋势。该措施表明每个硬币在其最后一次链交易价格上的价值，提供了对实际投资的实际资本的估计。

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.

从2011年初到2013年2月，比特币实现的CAP从100万美元迅速上涨至10亿美元。这一指数增长展示了在其新生阶段采用加密货币的令人难以置信的速度。

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，它已达到100亿美元。但是，直到2017年5月才达到1000亿美元，这表明累积较慢。

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.

根据GlassNode的2025数据，该指标现在接近1万亿美元的里程碑。值得注意的是，从1000亿美元到1万亿美元的进展时间已经跨越了六年。

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

随着时间的流逝，这种积累的减速表明，要达到每个连续的里程碑需要越来越多的资本。

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.

图表上曲线的变平突出了比特币从投机资产到更稳定的宏观经济资产的过渡。这种转变以更加一致和持续的资本流量为标志，反映了其作为价值存储和供暖资产类别的作用。