Google halts Bitcoin inquiries: Bitwise CEO remains optimistic
Bitcoin's Rise Unfolds Without Individual Investors' Frenzy
Bitcoin's recent surge in value isn't spurred by excitement among individual investors, as Google Trends shows Bitcoin searches at record lows in the past few months. Notably, the "Bitcoin" search value has plummeted to 28, its lowest level since October 2024, according to data from the past year. Search activity peaked in November 2024, coinciding with Bitcoin reaching a staggering $100,000.
Presently, Bitcoin hovers around $95,000 (as of April 2025), just 13% below its all-time high of $108,786 recorded in January. However, interest from individual investors remains remarkably low.
Analysis by Bitwise Invest's CEO
Bitwise Invest CEO Hunter Horsley contends that institutional investors have been the driving force behind Bitcoin's recent recovery. In the current uncertain global economy, Horsley notes that institutional investors are seeking refuge in Bitcoin. Horsley's comments echo:
"Corporations, professionals, large firms, and even governments are invading the cryptocurrency realm. The character of Bitcoin buyers is becoming more diverse."
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Behind the Scenes of the Rally
While Google Trends data doesn't directly reference Bitwise CEO Hunter Horsley's comments, it consistently highlights key players in Bitcoin's recovery:
1. Institutional DemandMajor financial institutions, asset managers, and sovereign wealth funds are stealthily accumulating Bitcoin, particularly through ETFs[1]. SEC filings reveal billions pouring into Bitcoin investment products, underscoring a surge in institutional participation[1].
2. Technical BreakoutsBitcoin has skyrocketed 10% in a week, breaching critical resistance levels ($88K-$92K) and validating bullish patterns like the falling wedge reversal. Analysts link weekly MACD crossovers and RSI trends to institutional buying signals[2][3].
3. Federal Reserve PolicyAnticipation of interest rate cuts in 2025 is funneling investors toward high-risk assets like Bitcoin[1]. Historical patterns indicate that BTC rallies 50-84% when low leverage combines with Fed policy shifts and robust retail economic data[3].
4. Post-Halving ScarcityThe April 2024 halving slashed new Bitcoin supply by 50%, creating an atmosphere of scarcity as institutional adoption swells[1][4].
Price Predictions bolster this institutional dominance, with Standard Chartered predicting $120K and other models suggesting $210K by late 2025[1][4]. While retail enthusiasm may surface, recent moves appear to stem from the deployment of institutional capital rather than individual trading activity.
- The recent surge in Bitcoin's value is primarily driven by institutional investors, according to Bitwise Invest CEO Hunter Horsley.
- Institutions such as major financial institutions, asset managers, and sovereign wealth funds are investing in Bitcoin, often through ETFs, as shown by SEC filings.
- Thecharacter of Bitcoin buyers is becoming more diverse, as corporations, professionals, large firms, and even governments enter the cryptocurrency realm, a sentiment echoed by Hunter Horsley.
- In the current uncertain global economy, institutional investors are seeking refuge in Bitcoin, regardless of low individual investor interest.
