🥵MARKET ALERT: BITCOIN AND ETHEREUM CRASH AS SEARCH INTEREST HITS 12-MONTH PEAK
💥The cryptocurrency market is witnessing a defining moment this week. Bitcoin and Ethereum have extended their relentless slide, erasing months of gains and shaking investor confidence. As prices tumble, a curious phenomenon has emerged: the world is aggressively searching for answers, driving Google trends for Bitcoin to their highest levels in a year.
💥The selloff has been brutal and indiscriminate. Bitcoin is struggling to hold critical support levels after briefly touching lows near $60,000, while Ethereum skirts dangerously close to the $2,000 line. This is not just a correction; it is a recalibration of the entire market structure that has caught many retail investors off guard.
💥Three primary drivers are fueling this bearish momentum. First, the nomination of Kevin Warsh as the next Federal Reserve Chair has spooked markets, with investors fearing a liquidity squeeze. Second, data shows significant net outflows from U.S. Spot Bitcoin ETFs, signaling that traditional finance is risk-off. Third, Bitcoin has lost its digital gold narrative, trading in lockstep with high-beta technology stocks which are suffering their own rout.
💥Amidst the red candles, a fascinating metric has flashed green. Google search volume for Bitcoin has surged to a perfect score of 100. This panic and curiosity suggests that retail investors are waking up, either to sell or scout for a bottom. While retail panic-searches, on-chain data reveals that whales have quietly accumulated Bitcoin in the last week. This divergence could indicate that smart money sees value at these suppressed levels.
Regards @KashCryptoWave
