In recent days, bitcoin has demonstrated a decline, maintaining a price range of approximately $62,950 to $63,125 per unit as of April 27. Despite this downturn, the Crypto Fear and Greed Index indicates prevailing "greed" sentiments. Notably, Google Trends data shows a decrease in interest in the term "bitcoin," while market intelligence firm Santiment reports an increase in sell signals for BTC.

For the past 58 days, Bitcoin has managed to sustain its value above $60,000, marking its longest period in 2024. However, post-halving, there seems to be a fading interest in bitcoin, as indicated by declining searches for "bitcoin" on Google Trends. The search volume dropped from a peak of 80 out of 100 on April 19 to a current score of 30, signifying a diminishing curiosity in the cryptocurrency.

On April 21, a noticeable decline in search interest was observed based on a 90-day overview from Google Trends. Nevertheless, there persists an exploration for a new price pinnacle, exemplified through frequent queries like "bitcoin all-time high" and "ATH bitcoin" in the related searches list. Moreover, on Friday, Santiment highlighted a notable uptick in "sell recommendations" on social media platforms, hinting at an escalating pressure to sell BTC among market participants.

Reflecting on market sentiment, Santiment articulated on platform X, "With bitcoin's price dipping to as low as $63.4K, crypto traders are feeling uneasy, witnessing a decrease in buy recommendations and a rise in sell suggestions." Santiment's market analysts concluded that as this level of fear, uncertainty, and doubt (FUD) sneaks in, the likelihood of market recovery tends to rise.

Conversely, QCP Capital's weekend briefing speculated that interest could see a surge with the imminent launch of Hong Kong's spot bitcoin and ethereum exchange-traded funds (ETFs) in the upcoming week. Pointing towards a potentially favorable development, QCP Capital mentioned, "We anticipate a positive catalyst next week with the commencement of trading for [Hong Kong bitcoin and ethereum] spot ETFs. Interest is mounting regarding what might serve as a doorway for the inflow of Asian institutional investments."