Bitcoin reached a new all-time high above $111,000 in May 2025, marking its first peak in four months. Despite this price milestone, indicators typically associated with market exuberance, such as increased retail interest and media coverage, remain subdued. Data from Alphractal shows that Wikipedia searches for Bitcoin, a common measure of retail attention, hit new lows, contrasting with historical trends where search activity rose alongside price surges. Similarly, Google searches are at all-time lows, and mainstream media coverage has been minimal. Market metrics such as funding rates indicate a healthy market without signs of overheating, and the Fear & Greed Index has not reached extreme greed levels, which are usually observed during previous all-time highs. Analysts interpret this disconnect between price and retail interest as characteristic of an early bull phase, suggesting that mainstream retail participation has yet to materialize. The subdued market sentiment and lack of hype have led some observers to describe this Bitcoin all-time high as unusually silent compared to past peaks.