Global Crypto Search Interest Hits One-Year Low as Retail Engagement Dwindles
- Declining Search Volume: Global search interest for 'crypto' registered a mere 26 this week, just two points above the yearly low of 24, indicating a persistent lack of retail investor engagement that may cap market upside momentum.
- Damaged Market Confidence: The collapse of Trump family-themed memecoins, which lost over 90% of their value, has significantly eroded confidence among casual traders, reflecting widespread disappointment among retail investors in the crypto space.
- Impact of Historical Volatility: Following an October flash crash that wiped out nearly $20 billion, Bitcoin, which peaked at $125,000 earlier this year, now hovers between $80,000 and $90,000, with the absence of strong upward breaks leading to diminished retail interest.
- Fear and Greed Index: The Crypto Fear and Greed Index fell to a yearly low of 10 in November, indicating 'extreme fear'; although it has since recovered to 28, this still suggests fragile market confidence as investors continue to digest losses.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36391.603 | 48195.801 | 61127.353 | 72931.551 | 85863.103 | 97667.301 | 110598.853 |
| Fibonacci | 48195.801 | 57644.858 | 63482.495 | 72931.551 | 82380.608 | 88218.245 | 97667.301 |
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