- Bitcoin ETFs saw inflows of $880 million on June 4.
- Despite the rise of Bitcoin, Google searches for related terms remain low.
Discover Bitcoin since its debut in January 2024 [BTC] Exchange-Traded Funds (ETFs) have shown exceptional performance.
Recent data indicates substantial inflows, with combined inflows of $880 million and $488.1 million on June 4 and June 5, respectively.
Farside Investors data shows that on June 4, the Fidelity Wise Origin Bitcoin Fund led the inflows, with a total amount of $220.6 million.
At the same time, Bitcoin has also crossed the long-awaited $70,000 mark, with prices at press time of $71,082.55.
Google data shows a downward trend
What’s surprising here, however, is that Google’s data showed a strikingly low level of search interest compared to the 2021 bull run.
This suggests that retail investors, a significant market segment, have yet to fully engage with Bitcoin ETFs, which could be a bullish indicator of potential future growth.
According to Google trendswhich assigns a score based on the relative peak popularity of a search interest, terms like “Bitcoin” and “btc” scored 41 and 17 out of 100, respectively.
However, terms like ‘bitcoin etf’, ‘btc etf’ and ‘Bitcoin ETF inflows’ registered a score of less than 1 globally.
Source: Google Trends
The managers weigh in
Adding to the Struggle, Crypto Analyst Miles Deutscherhighlighted in his June 6 X-post that interest in crypto-related content on YouTube has declined compared to 2021’s peak levels.
“There is no indicator in the world that better summarizes the current state of the market than crypto YT views. $BTC for $70,000 in 2021: 4 million views/day. $BTC for $70,000 in 2024: 800,000 views/day. Retail is not back yet.”
Source: Miles Deutsche/X
Deutscher further emphasized that the current market cycle has presented greater challenges for most investors than previous bullish periods.
Furthermore, altcoins have generally not performed as well as Bitcoin, leading to a mismatch between market sentiment and actual price movements.
Despite the decline in search interest, the community remains bullish on Bitcoin, especially applauding the accumulation of Bitcoin by various Bitcoin ETFs.
Echoing a similar sentiment, Little Pain went to X and said:
Source: Bit Paine/X