Amid a significant downturn in the cryptocurrency markets, global Google searches for the term 'crypto' have plummeted, reaching levels not seen since the dramatic Terra-LUNA crash of 2022. This decline in search interest reflects a growing sense of investor caution as the overall market capitalization of cryptocurrencies has fallen from a peak of over $4.2 trillion to approximately $2.4 trillion.
According to Google Trends, the worldwide search interest for 'crypto' currently stands at 30 out of 100, where 100 represents peak search interest. The last time such a peak was recorded was in August 2025, coinciding with a surge in market capitalization. Over the past year, the lowest search volume recorded was 24.
In the United States, search patterns mirrored global trends, hitting a high of 100 in July before dropping below 37 by January. Interestingly, U.S. search interest rebounded to 56 in early February, despite a low of 32 during the market crash in April 2025, which was exacerbated by tariff policies under President Donald Trump.
The cryptocurrency market has seen a sharp decline in trading volume, with figures dropping from a high of over $153 billion on January 14 to around $87.5 billion recently, as reported by CoinMarketCap.
Google search data often serves as a barometer for investor sentiment, aligning with other indicators like the Crypto Fear & Greed Index, which dipped to a record low of 5 last Thursday but slightly improved to 8 by Sunday. These numbers still indicate 'extreme fear' among investors.
The current sentiment echoes the post-collapse period of the Terra ecosystem in 2022, which unleashed a cascade of liquidations, deepening the bear market. Analytics from Santiment, a market sentiment analysis platform, reveal that investors are eagerly looking for signals indicating a market bottom to strategize their re-entries. "The crowd sentiment is overwhelmingly bearish, with negative commentary peaking since December 1st," noted Santiment in a recent report.
As crypto investors navigate this period of uncertainty, many are waiting for signs of a market rebound. This cautious approach is evident in the broader market, where the balance between optimism and skepticism remains delicate.