Summary
- Google's 'altseason' search index has reportedly plunged 55% in just one week.
- This was attributed to waning investor interest in the altcoin market following Bitcoin (BTC) reaching a new all-time high and subsequently declining.
- Reports suggest that a combination of bot activity and promotion by major crypto exchanges contributed to the spike in search volume.
Search frequency for 'altseason' on Google has dropped sharply within a week.
According to Cointelegraph on the 20th (local time), Google's 'altseason' search index recorded 45 points the previous day, a 55% decrease compared to a week ago (100 points). After Bitcoin (BTC) hit an all-time high (ATH) and then declined, interest in altcoin bull markets also seemed to drop.
Some have raised questions about the previous surge in search volume. Economist Alex Krüger said on X (formerly Twitter), "The surge in 'altseason' search volume may have been generated by bots," and added, "The volatility occurred too rapidly, reducing the reliability of the data."
However, some claim this was due to promotion by major crypto exchanges. Crypto market analyst Cristian Ciupoi noted, "Major crypto exchanges like Coinbase were promoting 'altseason,' resulting in a temporary surge in search volume."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
