U.S. Searches for “bitcoin zero” on Google reached a record high in February, coinciding with the cryptocurrency’s slide below $70,000 and a more than 50% drawdown from its October 2025 peak. While such spikes in online searches for the potential demise of Bitcoin have historically correlated with market bottoms, analysts caution that the current surge may be unique, reflecting concentrated U.S. Anxieties rather than a global panic.
The Google Trends data, first reported by CoinDesk on , shows the relative search interest for “bitcoin zero” hitting 100 in the U.S. This month. This mirrors similar peaks observed in 2021 and 2022, which preceded local lows in Bitcoin’s price. However, a crucial difference exists: global searches for the same term peaked in August 2025 and have since declined to 38, suggesting the current wave of concern is largely localized within the United States.
This divergence in sentiment is notable. While past search spikes offered a potential contrarian buy signal – indicating widespread capitulation among investors – the geographically limited nature of the current fear raises questions about its predictive power. The larger base of retail investors now participating in the Bitcoin market, compared to previous cycles, means a score of 100 on the Google Trends scale doesn’t necessarily equate to a greater *number* of people searching for the term, but rather a sharper increase in interest relative to previous levels.
Several factors are contributing to the heightened anxiety among U.S. Investors. Escalating tariffs announced by former President Trump, ongoing geopolitical tensions with Iran, and a broader risk-off sentiment in domestic equities have all contributed to market volatility. These factors may be disproportionately impacting U.S. Retail investors, who are reacting more acutely to these headlines than their counterparts in other regions.
“The U.S. Context is marked by a series of recent economic and geopolitical events,” noted an analysis published by Archyde.com on . “Retail investors in the U.S. May be reacting more acutely to these headlines than those in other regions, where Bitcoin’s price decline is occurring against a different news backdrop.”
Bitcoin’s price has experienced significant volatility in recent months, falling from its all-time high in October to around $68,020 as of . This decline has prompted renewed debate about the long-term viability of the cryptocurrency, with some investors questioning whether it could ultimately fall to zero. However, others view the current downturn as a buying opportunity, citing historical patterns of recovery following similar price corrections.
Hugh Hendry, a hedge fund veteran, is among those taking a contrarian approach. While details of his specific investment strategy were not provided, his stance suggests that some investors believe the current fear is overblown and that Bitcoin remains a potentially attractive investment.
It’s important to remember that Google Trends measures relative search interest, not absolute search volume. The scale assigns a value of 100 to a term’s peak within a given timeframe, and location. A score of 100 in February 2026, when Bitcoin has a significantly larger U.S. Retail audience than in 2022, does not necessarily indicate a greater number of people searching for the term in absolute terms. It signifies a sharper increase in interest relative to previous levels.
The situation highlights the complexities of interpreting market sentiment. While search data can provide valuable insights into investor psychology, it should not be viewed in isolation. A comprehensive analysis requires considering a range of factors, including macroeconomic conditions, geopolitical events, and the evolving landscape of the cryptocurrency market.
The narrative of Bitcoin going to zero is resurfacing, as reported by MSN on , with Google searches for the phrase surging to levels not seen since the post-FTX panic of November 2022. However, the data suggests this fear is currently more pronounced in the U.S. Than globally, potentially diminishing its reliability as a broad market indicator.
whether the current surge in “bitcoin zero” searches signals a genuine market bottom or simply reflects localized U.S. Anxieties remains to be seen. Investors should exercise caution and conduct thorough research before making any investment decisions.
