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Significant signs of activity are appearing in the cryptocurrency market. As of March 2025, searches for “Bitcoin 
$108,890” and “Ethereum 
$2,730” on Google have reached their highest levels for the year. According to Google Trends data, this increase indicates a strong signal of renewed interest from individual investors. Recent economic and political developments have especially brought Bitcoin’s identity as a “store of value” back into focus.
Search Volumes Hit Annual Highs
According to Google’s search trends, the score for the keyword “Bitcoin” reached 34 in March. This figure represents the highest level achieved in 2025. For comparison, the score was 31 in January and 27 in February, indicating a 26% increase from February to March. Given that interest in Bitcoin has been steadily declining since November 2024, this upward trend is particularly noteworthy.
A similar picture emerges for “Ethereum,” which reached a search score of 19 in March. This score is the highest for the year, but still trails behind previous cycles. Compared to the peak score of 100 recorded in May 2021, current interest remains quite low. Nonetheless, surpassing the score of 16 recorded in February indicates some emerging interest in Ethereum among individuals.
Possible Reasons for Increased Interest in Bitcoin
Experts suggest that the rise in Bitcoin searches in March may be influenced by recent political and economic developments. Particularly, the announcement of new customs tariffs in the U.S. at the beginning of April has once again highlighted Bitcoin’s long-held identity as “digital gold.” During times of reduced confidence in traditional markets, Bitcoin is viewed as a safe haven, which supports this surge in interest.
Another supporting data point is the Bitcoin to S&P 500 index ratio. Since the announcement of the “Freedom Day” tariffs on April 2, the BTC/SPX ratio has increased by over 8%. This suggests that investors are turning to off-market alternatives. However, Bitcoin is not the only beneficiary of this trend.
Gold Remains a Symbol of Trust
Despite the rising interest in Bitcoin, the traditional store of value, gold, should not be overlooked. Recent data shows that gold has demonstrated stronger performance relative to both Bitcoin and the S&P 500. Since “Freedom Day,” the gold/BTC ratio has increased by 8%, while the gold/SPX ratio has risen by 10%.
This scenario indicates that investors still place more trust in gold as a hedge against inflation and global uncertainties. While Bitcoin garners interest as a digital alternative, the perception that “real” safe haven remains physical gold persists. Nonetheless, the rising interest in cryptocurrencies fosters hope for a revival in the markets.
