Bitcoin (BTC) Search Interest Hits a Five-Year Low in October

Worldwide search interest for Bitcoin (BTC) reached a five-year low in two consecutive October weeks, while Robinhood’s third-quarter figures showed lower crypto revenue and trading volume.

An index based on worldwide searches for “bitcoin” recorded a score of 19 out of 100 in the weeks beginning Oct. 11 and Oct. 18 (UTC). The previous low in its five-year view was 21 in late September 2023. The readings are close to an earlier projection that Bitcoin search interest would approach 20.

The index uses sampled search data, adjusts results for the selected location and time range, and scales them from zero to 100. A score of 19 reflects relative interest, not a count of searches or a measure of how many people hold Bitcoin. The readings do not show why interest fell or establish that Bitcoin has reached a price bottom.

Robinhood released its results Oct. 27 for the quarter ended Sept. 30. Crypto transaction-based revenue was $120 million, down 55% from a year earlier, while crypto notional trading volume fell 38% to $50 billion.

The volume figure covers cryptocurrencies broadly and includes trading on the Robinhood app and Bitstamp. It does not isolate Bitcoin activity or establish a marketwide decline in Bitcoin trading.