Bitcoin (BTC) has recently dropped as low as $40,610, not only BTC, but also other altcoins. Ethereum (ETH) is one of the altcoins affected by the drop.

Ethereum (ETH), the second largest cryptocurrency based on its total market cap, saw a 13% drop in 7 days. Bitcoin, the leading crypto that started this decline, recorded a 9% decline and experienced less decline compared to Ethereum. The latest data could indicate that things could get worse for the leading altcoin Ethereum.

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When Google Trends data is examined, some critical search terms related to Ethereum that have peaked recently draw attention. “Why has Ethereum gone down?” search was one of the most common queries about ETH on google. The number of people wondering why the Ethereum price fell suddenly increased by 2,000%. This actually explains the situation of those who still do not sell their ETH and wonder the reason for the decline.

According to Google Trends data, searches for “sell Ethereum” also increased almost 10 times in 24 hours. This may indicate that there is an official panic situation to sell Ethereum in the cryptocurrency market. According to the data provided by Payback LTD, especially during the hours when ETH fell from $ 3,600, the calls broke the record.

ETH price is currently trading at $3,132, and below $3,200 indicates that the danger remains. If the $3,200 support remains a distant target at the daily close, the next target for ETH price could be $2,800.

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What Do Google Searches Indicate?

The recent anti-crypto stance of Tesla and Mozilla has also contributed to the tides being felt throughout the market. However, the Ethereum community awaits the upcoming implementation of the EIP-1559 update and the ETH 2.0 upgrade planned for 2022.

The surge in searches for Ethereum selling suggests that many people are likely looking to liquidate their ETH holdings for fear of further price drops amid an increasingly bear market indicator.