Google Search Volume for 'Bitcoin' Skyrockets Amid BTC Price Swings

Search interest in 'Bitcoin' has surged as the cryptocurrency continues to experience significant price swings. The U.S. government's strategic Bitcoin reserve, established under President Donald Trump, has lost nearly $5 billion in value since its creation in March 2025. Despite this, Trump officials remain committed to the initiative, emphasizing the long-term gains Bitcoin has seen over the past several years.

Coinbase's stock has also come under pressure. Citi analysts recently cut their price target for the exchange to $400 from higher levels, citing regulatory uncertainty and declining trading volumes. In parallel, Bitcoin's price has dropped 45% from its all-time high, reaching roughly $69,000.

President Trump's World Liberty Financial (WLFI) has also been affected. On Feb. 5, a wallet associated with WLFI sold 173 wrapped Bitcoin (WBTC) to repay $11.75 million in stablecoin debt on the Aave protocol. This move prevented forced liquidation and improved the wallet's health factor to a safer level. The broader DeFi ecosystem has also seen increased voluntary deleveraging as market conditions deteriorate.

Why Did Bitcoin Search Volume Surge Amid Price Volatility?

Bitcoin's recent price swings have drawn attention from both retail and institutional investors. Google search volume for 'Bitcoin' has skyrocketed, indicating heightened interest in the asset as it moves lower. The selloff has accelerated in the past week, with Bitcoin losing 17% of its value over seven days.

This renewed interest is also evident in trading behavior. Some investors are opting to sell collateral to repay debt and reduce leverage, while others are waiting for potential support levels to emerge. Analysts have pointed to $38,000 as a possible floor, suggesting another 43% drop from current levels.

How Did Markets Respond to Deleveraging and Liquidation Risks?

Across DeFi and centralized exchanges, deleveraging has become a defining trend. Aave V3 alone reported $140 million in liquidations over a 24-hour period, as leverage is unwound system-wide. The broader market has also seen a shift in sentiment, with crypto sentiment hitting its lowest level since 2022.

Bitcoin miners have also taken action to mitigate risk. Over 10 hours, MARA transferred $87 million worth of Bitcoin to custody venues, signaling caution amid the ongoing selloff.

Hyperliquid’s HYPE token has bucked the broader trend, rising nearly 3% on Friday. The token has benefited from the Coinbase listing and growing interest in the platform's prediction market expansion.

What Are Analysts Watching Next?

Analysts are closely monitoring Bitcoin’s next support level and the potential for further liquidation waves. If Bitcoin drops below $63,000, more automated deleveraging could be triggered. Some experts believe the asset could fall to $38,000 based on historical patterns.

Regulatory and market dynamics continue to influence investor sentiment. Citi's revised price target for Coinbase highlights growing concerns about the regulatory environment and trading volumes. In the broader DeFi ecosystem, Aave's variable borrow rates are rising as utilization increases, further squeezing leveraged positions.

As the crypto market continues to adjust to falling prices, investors are increasingly focused on risk management. The U.S. government’s long-term stance on Bitcoin remains unchanged, despite its recent losses. Whether this strategy will ultimately benefit taxpayers remains uncertain.