Google searches for the phrase “Bitcoin going to zero” have surged to their highest level in five years, according to Google Trends data. This spike in retail fear correlates with Bitcoin’s sharp decline from an all-time high near $126,000 in October 2025 to around $66,000, amidst macro uncertainty and bearish media commentary. Analysts note a divergence, however, as institutional investors reportedly continue accumulating Bitcoin despite the extreme retail pessimism.
Retail investor anxiety is intensifying as searches for extreme negative outcomes hit record levels. Google Trends data shows interest in the phrase “Bitcoin going to zero” has reached a maximum score of 100, a five-year peak. This search behavior spike correlates with Bitcoin’s roughly 50% drawdown from its October 2025 high.
Analysts note the current fear dynamic is different from the 2022 panic driven by lender failures. The recent distress is fueled by macro uncertainty and bearish media narratives. These narratives are often amplified by commentators like Mike McGlone from Bloomberg, whose bearish predictions are referenced across crypto media.
Institutional behavior appears to contrast sharply with this retail fear. Perception data indicates sovereign wealth funds and other large investors have been adding to their Bitcoin holdings during the decline. This divergence suggests professional and retail sentiment are not aligned, with institutions potentially nearing contrarian buying points.
Current market sentiment indicators, like the Crypto Fear & Greed Index, reflect an “Extreme Fear” zone. Such highly pessimistic readings have historically been linked to short-term market lows. Analysts observe that fear-based search increases typically coincide with significant price declines before potential consolidation.
