Bitcoin (BTC) has shattered the six-figure mark, crossing $100,000 for the first time in history. Yet, public interest appears eerily indifferent. According to data from Alphractal, Google search interest for “Bitcoin” remains stagnant at a score of 17—the same level seen when BTC was priced at $17K, $26K, and $54K. This suggests that despite monumental price action, retail attention hasn’t caught up.
Google Searches for Bitcoin Hit 17 Points!
— Alphractal (@Alphractal) June 2, 2025
This is the same level recorded when Bitcoin was trading at $54K (Sep/2024) and also at $26K (Aug/2023).
For comparison, during the market bottom in Nov/Dec 2022, with BTC around $17K, Google search interest was at the same level as… pic.twitter.com/xqGSbC1ld7
The phenomenon reflects a classic market psychology phase—disbelief. Bitcoin’s recent dip from its all-time high of $111K, along with a lack of media frenzy, indicates the rally is running on quiet conviction rather than hype. Historically, such phases precede either explosive upward momentum or a significant correction to reignite broader engagement.
Widening Bid-Ask Spread Signals Buyers Are Taking Control
While headlines may not reflect it, Bitcoin’s spot market is brimming with activity. The bid-ask spread—a key indicator of market pressure—is widening, suggesting that buyers are stepping up even as sellers pull back. This dynamic often precedes major price movements.
If the spread continues to push into positive territory, it will mark a clear shift toward buyer dominance. Market structure data from Alphractal has previously shown that such movements often herald new breakout rallies. In this case, the growing spread could be the silent signal of another leg upward in BTC’s price trajectory.
Muted Momentum Keeps Bitcoin Range-Bound
At press time, Bitcoin is trading at $105,486 after facing resistance at $106,000. The 9-day Simple Moving Average (SMA) continues to act as a ceiling, while the Relative Strength Index (RSI) sits at a neutral 53—indicating cautious momentum.
🚨 The Bid-Ask Price Difference in the Spot Market is Rising Again for BTC!
— Alphractal (@Alphractal) June 2, 2025
If it flips back to positive, it’s a clear sign of buying pressure — price tends to react.
📊 This metric tracks the difference between the average buy (Bid) and sell (Ask) prices in the Spot market.… https://t.co/eL7jkox5MY pic.twitter.com/6drr1jV2Xs
Meanwhile, the On-Balance Volume (OBV) remains negative, reinforcing the narrative of low conviction among buyers. Unless Bitcoin can convincingly break above $106,500, near-term price action is likely to remain range-bound. For now, the market seems to be waiting for a clearer catalyst to reignite momentum.
Bitcoin’s current rally is defined more by quiet confidence than mainstream excitement. But under the hood, technical signals suggest the next move may be brewing—whether the crowd is watching or not.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
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