Bitcoin closes above $106k for first time and without retail frenzy
Bitcoin closed above $106,000 for the first time in its history on May 20, according to CryptoSlate’s data.
The milestone followed several failed attempts earlier in the year, when that price level acted as strong resistance.
This time, however, the rally pushed beyond the ceiling, briefly touching $108,024 and sparking optimism about another all-time high.
Some market watchers believe Bitcoin could be on track to surpass $110,000 in the coming weeks. Yet, despite the price surge, the typical signs of retail enthusiasm are missing.
In past cycles, a move like this would have drawn a wave of new investors and widespread media coverage. Instead, the response has been relatively muted.
Google Trends data shows that search volume for “Bitcoin” is currently at levels last seen in early November 2024, before US President Donald Trump secured his second term at the White House.
At that point, global interest in the top crypto had reached a score of 22 on Google’s 0–100 scale. However, the peak search interest ballooned to 40 in January when BTC reached a new all-time high.
Still, this is less than half of the retail frenzy observed in prior bull markets in 2021, when the score hit 100.
The post Bitcoin closes above $106k for first time and without retail frenzy appeared first on CryptoSlate.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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