Bitcoin’s U.S. Google search volume has fallen to an 11-month low as gold continues a dramatic run, highlighting a temporary shift in investor attention toward safe-haven assets.
Google Trends shows search interest for Bitcoin has slid back to levels last seen in October 2024, despite continued institutional ETF flows earlier in 2025. The performance gap is stark: gold is up 38% year-to-date in 2025, while Bitcoin has gained about 18%. At the time of reporting Bitcoin was trading near $111,565, while gold reached $3,613.48.
Analysts say the divergence reflects a broader risk-off mood. Derek Lim, head of research at Caladan, told reporters this trend signals a move toward safety over speculation amid macro uncertainty. Shawn Young, chief analyst at MEXC, described search interest as “cyclical,” driven by retail attention spikes, and credited macro drivers — including rate-cut expectations, dollar weakness, and central-bank buying — for powering gold’s record highs.
Why Bitcoin might still rally
Despite the current lull in attention, several market watchers point to a recurring pattern: gold rallies often precede outsized moves in Bitcoin. Observers such as Lawrence Lepard and VanEck’s Matthew Sigel argue that bullion-led rallies can act as an early signal that risk appetite is shifting — and that when rotation occurs, Bitcoin tends to amplify the move.
Price targets shared by industry voices vary but skew bullish if macro conditions flip. Forecast ranges cited include $120,000–$150,000 for 2025 (with outliers toward $200,000), and more aggressive scenarios that place BTC above $250,000 in deep fiat-devaluation narratives.
Key catalysts to watch are sustained expectations of reflation — notably Fed rate cuts — moderated central-bank gold buying, renewed ETF momentum, and positive on-chain metrics that would convince marginal capital to rotate from bullion back into Bitcoin. Traders remain split: prediction markets show nearly 60% expecting gold to outperform Bitcoin through 2025.
Risk awareness: Forecasts are speculative and hinge on macro policy, liquidity flows and investor sentiment. Price targets should not be taken as investment advice; markets can move quickly and unpredictably.
Source: Decrypt. Read the original coverage for full details.