Bitcoin is entrenched in a deep bear market zone, trading significantly below its long-term averages, as retail interest spikes according to Google Trends data. The cryptocurrency's price recently plummeted from approximately $81,500 to near $60,000, triggering a surge in search activity. This pattern suggests heightened retail attention during periods of sharp market stress, with investors seeking clarity amid rapid price movements.
The current market conditions are characterized by a Mayer Multiple Z-Score below minus 0.9, indicating extended consolidation rather than immediate recovery. Analysts note that this phase tests investor conviction, with sentiment remaining muted and trading volumes selective. Historical data suggests such bear market zones often precede trend changes, but clear signals are typically absent in early stages, leaving many participants cautious and on the sidelines.
Bitcoin Faces Deep Bear Market Amid Rising Google Search Interest
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