U.S. spike in ‘Bitcoin to zero’ searches sends mixed signals on market bottom

Search interest for the phrase “bitcoin zero” has hit an all-time high in the U.S., even as global search activity around the term continues to trend lower.

Data from Google Trends shows U.S. searches for “bitcoin zero” climbed to 100 on its relative interest scale in February, coinciding with bitcoin’s slide toward $60,000 following a drawdown of more than 50% from its October record high.

Such spikes in pessimistic search terms are often interpreted as signs of capitulation. In prior cycles, including 2021 and 2022, similar surges in “bitcoin zero” queries appeared near local price bottoms, reinforcing the idea that extreme retail fear can serve as a contrarian buy signal.

Globally, however, the pattern looks different. Worldwide search interest for the same term reached 100 back in August and has since fallen steadily, dropping to 38 this month. Instead of intensifying, global fear-related searches have been cooling.

The split suggests that the current wave of anxiety may be concentrated in the U.S. rather than broadly shared. That aligns with the recent macro backdrop, where U.S.-focused developments — including trade tensions, geopolitical strains involving Iran and a wider risk-off rotation in domestic equities — have dominated headlines.

Retail investors in the U.S. may be reacting more strongly to these narratives, while market participants in Europe and Asia face different economic and political contexts.

It’s also important to understand how Google Trends works. The platform does not measure absolute search volume; instead, it assigns a relative score between 0 and 100, with 100 representing the highest level of interest for that term within the chosen time frame.

A 100 reading in February 2026 does not necessarily mean more people are searching compared with prior bear markets. Bitcoin’s user base and mainstream exposure have grown significantly since 2021, meaning the baseline level of interest is higher.

The takeaway: retail fear in the U.S. is clearly elevated, but the traditional “search spike signals the bottom” framework may carry less weight when global interest is declining. It could still offer contrarian fuel — just not a definitive signal of an imminent reversal.