Google searches within the U.S. for “bitcoin zero” surged to a file 100 on the corporate’s relative curiosity scale in February, coinciding with bitcoin’s slide towards $60,000 after a 50%-plus drawdown from its October all-time excessive.
The spike may very well be learn as a sign of widespread capitulation and, doubtlessly, a contrarian purchase sign. Comparable peaks in 2021 and 2022 occurred close to native lows within the bitcoin worth.
The worldwide information, nevertheless, tells a distinct story. Worldwide, the identical time period peaked at 100 again in August, falling to as little as 38 this month. Moderately than setting file highs, international concern searches have been declining for months.
The divergence suggests any panic is extra localized than common. That matches the backdrop. U.S.-specific catalysts — corresponding to tariff escalation, tensions with Iran and broader risk-off rotation in home equities — have dominated the macro narrative in current weeks.
Retail buyers within the U.S. could also be reacting to these headlines extra acutely than holders in Asia or Europe, the place bitcoin’s drawdown is touchdown in a distinct information cycle.
There’s additionally a methodological wrinkle price flagging. Google Developments would not report uncooked search quantity, however scores curiosity on a relative 0-to-100 scale, the place 100 merely marks a time period’s personal peak inside the chosen time window.
A rating of 100 in February 2026, when bitcoin’s U.S. retail viewers is meaningfully bigger than it was throughout the 2022 bear market, would not essentially imply extra individuals are looking out in absolute phrases. It means the time period spiked relative to a better baseline.
Bitcoin’s person base and mainstream visibility have themselves grown dramatically since 2021. The takeaway is that retail concern is clearly elevated within the U.S., however the “searches hit a backside” framework might not carry the identical weight when the worldwide development is cooling. It could nonetheless be contrarian gas, simply not the type that ensures a clear development reversal.
