Google search volume for the term "Bitcoin" has surged to its highest level in the past 12 months, according to provisional data from Google Trends. The search interest score reached 100 for the week beginning February 1, 2026, surpassing the previous peak of 95 recorded during November 16–23, 2025.
The spike in retail interest coincides with significant price volatility for Bitcoin (BTC). The asset's price dropped from approximately $81,500 on February 1 to briefly touch the $60,000 level within five days—a low not seen since October 2024. Bitcoin subsequently rebounded, trading around $70,740 at the time of Cointelegraph's publication and showing a 7.7% gain in the last 24 hours according to subsequent reports, though it remains down 15.51% over the past week.
Market analysts view search trends as a key indicator of retail participation. "Retail is coming back," stated André Dragosch, Head of Europe at Bitwise, in a social media post. Further evidence of renewed buying interest, particularly from U.S. investors, comes from the Coinbase premium turning positive for the first time since mid-January, as noted by CryptoQuant's Head of Research, Julio Moreno.
Despite the rebound, market sentiment remains cautious. The Crypto Fear & Greed Index plummeted to an "Extreme Fear" score of 6 on Saturday, February 6, nearing levels last observed in June 2022. Some analysts caution that the recent price recovery may be temporary. Markus Thielen of 10X Research suggested Bitcoin could eventually test $50,000 following a near-term counter-trend rally, while other analysis indicates the Spent Output Profit Ratio (SOPR) has not yet signaled a definitive market bottom.
The recent decline has also fully erased the so-called "Trump market" gains that initially propelled Bitcoin to $100,000 following the November 2024 U.S. election.
