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Bitcoin futures in the Google search arena

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  • Arsi, Sonia

Abstract

This paper investigates the dynamics of a multiscale relationship between Bitcoin futures and investor attention proxies using wavelet coherence analysis. Attention is measured by Google searches for Bitcoin-related keywords, disclosing specific interest, and the keywords of major competitors, Ethereum and Tether, for a more complete market perspective. The findings reveal that Bitcoin- and Ethereum-related searches exhibit pronounced coherence with trading volume across timeframes, while Tether-related searches display notable interaction only with futures returns, demonstrating news-driven behavior. Interestingly, open interest generally fails to interact with investor attention, highlighting that retail activity broadly diverges from sophisticated trading.

Suggested Citation

  • Arsi, Sonia, 2026. "Bitcoin futures in the Google search arena," Finance Research Letters, Elsevier, vol. 88(C).
    • Handle: RePEc:eee:finlet:v:88:y:2026:i:c:s1544612325024274
    DOI: 10.1016/j.frl.2025.109178
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    References listed on IDEAS

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