Google Accused of Curbing Bitcoin’s Online Presence: Is Crypto Suppression at Play?

Key Points

• Google has relocated Bitcoin’s price chart to the Finance section from its main search page results.
• Bitcoin’s price surged past $64K, reinforcing long-term bullish sentiment in the market.

One user accused Google of trying to suppress crypto, stating, “They only silence things they are afraid of.” However, this claim has been disputed as the chart hasn’t been removed, just relocated.

Bitcoin’s Strong Performance

Despite this change, Bitcoin’s performance remains strong. The cryptocurrency has surged past the $64,000 mark and at the time of writing, trades at $63,928. This bullish sentiment has resulted in a market capitalization increase of over 1.63% in the last 24 hours.

The rise in Bitcoin’s price has come at a time when exchange reserves of the cryptocurrency are at their lowest since 2018. This suggests that investors are choosing to hold onto their assets rather than sell, reinforcing the long-term bullish belief in Bitcoin.

Derivative Data Analysis

Analysis of derivative data from Coinglass shows an increase in short liquidations, suggesting a short squeeze. This could further drive Bitcoin’s price upwards as traders rush to cover their losses. If this momentum continues, more participants may re-enter long positions, expecting continued gains.

Furthermore, Bitcoin’s trading volume has surged by over 68% in the past day, indicating an increase in market participation.