Although the general search interest of traders in Bitcoin (BTC) has been steadily declining, the flagship currency has been witnessing a much-anticipated <a href="https://www.cryptoknowmics.com/news/btc-technical-analysis-the-new-target-is-at-the-mark-of-78000/">high</a> on October 13, as bulls battled to maintain February’s previous all-time highs. 
<h2>The Search Interest of Bitcoin is on the Decline as It Falls Below $55,000</h2>
Data from <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="nofollow noopener">TradingView</a> showed BTC/USD retreating from five-month highs to temporarily dip below $54,000 on Bitstamp.

After rebounding to about $55,000, the pair was turbulent on Wednesday, with no obvious direction seen in the immediate term.

Analysts, on the other hand, were unsurprised by the movements. $58,000 had been touted as difficult resistance that was unlikely to be broken all at once, while a "<a href="https://www.cryptoknowmics.com/news/explained-how-ascending-channels-help-crypto-traders-buy-the-dip/">buy the dip"</a> chance around $53,000 or below was also on many people's radar.

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"This BTC drop does not bother me at all," trader and analyst Rekt Capital <a href="https://twitter.com/rektcapital/status/1448003827366604800" target="_blank" rel="nofollow noopener">concluded</a>.
He went on to <a href="https://twitter.com/rektcapital/status/1447992496877879297" target="_blank" rel="nofollow noopener">say </a>that such consolidation and retest was likely necessary for Bitcoin (BTC) to solidify fresh support and proceed towards current all-time highs and beyond.

Popular trader Pentoshi had a similar view, implying that the greater bottom that might come from the retreat could be Bitcoin's last before an attack on higher levels.
"Clear invalidation if 48k lost," he <a href="https://twitter.com/Pentosh1/status/1447974282244526086" target="_blank" rel="nofollow noopener">concluded </a>in remarks on Twitter on Tuesday.

<h2>The Absence Of Exhilaration Is A "Welcome Surprise"</h2>
As previously noted, Bitcoin (BTC) has maintained a low profile while being within 15% of all-time highs.

In comparison to earlier in the year, Google Trends data <a href="https://trends.google.com/trends/explore?q=Bitcoin" target="_blank" rel="nofollow noopener">reveals </a>a relative lack of interest in Q4 Bitcoin highs.

While there are hints of greed, sentiment has not reached the extremes that have typically characterized local and global price peaks.
"Pleasantly surprised by the absence of enthusiasm as we reach $60K Bitcoin," said Charles Edwards, founder of asset management Capriole, this week.

Bitcoin Search Interest is Approaching a Year Low as it Falls Below $55,000

Although the general search interest of traders in Bitcoin (BTC) has been steadily declining, the flagship currency has been witnessing a much-anticipated high.

Kavya Barua is a voracious learner who is fascinated by crypto and Fintech advancements. Graduated from Janki Devi Memorial College's B.A (Hons) English program at the University of Delhi. She aspires to be a successful professional, having a keen interest in learning and achieving results.

Bitcoin Search Interest is Approaching a Year Low as it Falls Below $55,000

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