Bitcoin search interest nears 1-year lows as BTC price slips below $55K

Bitcoin (BTC), which saw a much anticipated pullback on October 13, as bulls struggled to match February’s old all time highs.

BTC/USD 1-hour candle charts (Bitstamp). Source: TradingView
Naysts are not fazed at the price pullback of BTC

Data from TradingView and Cointelegraph Markets Pro showed that BTC/USD reversed from its five-month highs and briefly wicked below $54,000 on Bitstamp.

The pair recovered to $55,000 on Wednesday, but it looked confused and unsure of their direction in the near term.

Analysts were not surprised by the movements. Analysts had positioned $58,000 as tricky resistance. This was unlikely to be broken all at once. However, many were also looking for a “buy-the-dip” opportunity at $53,000 and below.

Rekt Capital analyst and trader Rekt Capital stated, “This BTC pullback does not worry me at all.”

He said that such a consolidation and retest was necessary for Bitcoin to cement support and continue towards extant all time highs.

Pentoshi, a popular trader, shared a similar opinion and suggested that Bitcoin’s next low could be the result of the pullback.

He concluded Tuesday’s Twitter comments with “Clear invalidation”

It is a pleasant surprise to find out that there is no euphoria.

Cointelegraph reported that Bitcoin has maintained a low profile, despite being within 15% of all time highs.

Related: Want some Bitcoin ‘hopium’? This chart shows that the new BTC price will reach a record high in November

Google Trends data indicates a relative lack of interest in Q4 Bitcoin highs, compared to earlier in the year.

While there are signs of greed in the sentiment, it hasn’t reached the extremes that have been associated with macro and local price tops.

Charles Edwards, the founder of Capriole asset manager, was this week surprised at the lack of euphoria.

“Just like October 2020.”

Global Google search data for “Bitcoin” Source: Google Trends
https://cointelegraph.com/news/bitcoin-search-interest-nears-1-year-lows-as-btc-price-slips-below-55k

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Donna Burk– Business News My Name is Donna Burk and I am also the main source from the ‘Dailynewssheet.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor.

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