Altcoin Interest Hits New Highs Amid Bitcoin Weakening: Google Trends

Google Trends and market trackers show a fresh wave of interest in altcoins as Bitcoin’s share of the market slips.

Searches for altcoins have jumped, while Bitcoin dominance has dropped by 6% — from about 65% to nearly 60% — over the last two months.

Traders and small investors are shifting attention to coins beyond Bitcoin, and prices are following that attention.

Altcoin Interest Surges

According to reported search data and market figures, several major altcoins moved sharply higher this week.

Ethereum climbed roughly 28% over the past seven days and was trading at about $4,650 at press time. That price sits about 3.5% below its all-time high of $4,890, reached in November 2021.

Money flowed into spot ETH exchange-traded funds in huge amounts on a single day, with about $1 billion of cumulative inflows reported.

Based on reports, BlackRock’s ETHA took in roughly $640 million and the Fidelity Ethereum Fund (FETH) pulled in around $276 million, and the group of Ethereum ETFs now holds nearly $26 billion in assets under management.

Prices And Movers

Reports have disclosed strong weekly gains for other coins too, with Solana up 23% and Dogecoin rising 21% over the same seven-day period.

Ethereum, Dogecoin, Solana and LINK are among the top movers inside the top ten by market cap.

Some of those moves are tied to the ETF inflows for Ethereum and to renewed retail interest, according to market analysts and on-chain trackers.

Investors looking for quick gains have been shifting capital out of Bitcoin and into these bets, at least for now.

Based on reports from analytics firms, the fall in BTC dominance reflects a rotation of capital into smaller and mid-sized coins.

That rotation has coincided with higher search traffic for altcoin names on Google. This is a sign that retail traders are paying more attention to non-Bitcoin coins right now, and that attention is showing up in price action across several markets.

Market watchers say the next key signals will be whether ETF inflows keep up and whether Bitcoin reclaims lost market share.

If flows to Ethereum funds stay strong, that could keep supporting prices. If Bitcoin bounces back, some of the more speculative gains in altcoins could be reversed.

For now, the data points are clear: searches for altcoins are up, Ethereum ETFs saw a massive one-day inflow near $1 billion, and BTC dominance has waned over the past two months.

Featured image from Unsplash, chart from TradingView