- U.S. Bitcoin interest surges as Google Trends data signals renewed public focus on digital assets amid market shifts.
- White House crypto summit disappoints investors, as no new Bitcoin purchases are announced despite a strategic reserve plan.
- Bitcoin dips to $84.5K post-summit, with market sentiment cautious as investors seek clearer policy direction.
Bitcoin and cryptocurrency interest in the U.S. is rising. According to Google Trends data, search volumes for “Bitcoin” and “Crypto” are increasing. Bitcoin leads in search volume, showing spikes during major bull runs. The largest spikes occurred in 2013, 2017, and 2021, coinciding with Bitcoin reaching record highs. The recent increase in searches suggests renewed public interest in digital assets.
Google Trends Reveal Market Cycles
Bitcoin search interest has followed market cycles. The 2013 bull market saw the first major surge in searches. In 2017, interest hit an all-time high as Bitcoin neared $20,000. The 2021 bull run drove another sharp increase, with Bitcoin reaching new highs. Meanwhile, “Crypto” searches have followed a similar pattern but at lower volumes.
Election periods also appear to influence interest. Market uncertainties often drive investors to seek alternative assets, including Bitcoin. The latest search data shows a fresh spike, hinting at a potential trend shift. The abbreviation “SBR” appears near the latest data point, possibly signaling a new market catalyst.
White House Crypto Summit Sparks Debate
On March 7, the White House held its first-ever crypto summit. In terms of the US government’s approach to digital assets, this was a turning point. President Trump reaffirmed his wish for the United States to lead the world in cryptocurrency. However, many within the industry were waiting for targeted policy changes, which failed to come.
A major announcement came from David Sacks, Trump’s “crypto czar.” He revealed an executive order establishing a strategic Bitcoin reserve. However, this reserve would only include Bitcoin seized by federal agencies. Many investors had anticipated new government Bitcoin purchases, but the order failed to meet those expectations.
Additionally, a separate “digital asset stockpile” was created. This will hold seized cryptocurrencies like Ethereum and Ripple. Investors hoped for fresh capital inflows, but the administration did not commit to new crypto acquisitions.
Market Reaction and Bitcoin Price Drop
Bitcoin’s price dropped 3% on Friday after the summit, ending the week around $87,000, down over 7%. The market initially reacted favorably to the reserve disclosure. But when investors learned there would be no more government acquisitions, their excitement subsided.
As of today, Bitcoin trades at $84,561.92, down 1.76% in the last 24 hours. The 24-hour trading volume stands at $15.99 billion. Market sentiment remains cautious as investors await further policy clarity.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
