Search interest for 'crypto' on Google reaches near 12-month bottom during market turmoil
Current cryptocurrency investor sentiment has plummeted to levels not seen since the 2022 Terra-LUNA collapse, which triggered widespread panic across digital asset markets.
The global search interest on Google for the term "crypto" has fallen to levels approaching its lowest point in the past year, demonstrating deteriorating investor confidence during an extensive market decline that has slashed the aggregate cryptocurrency market capitalization from a record peak exceeding $4.2 trillion down to approximately $2.4 trillion.
At the current moment, global search interest for "crypto" registers at 30 on a scale of 100, where a score of 100 represents peak search activity, which was most recently achieved in August 2025 coinciding with the market cap zenith. According to data from Google Trends, the lowest point over the past 12 months stands at 24.
Search activity within the United States displayed a comparable trajectory, with interest reaching its peak at 100 in July before declining to beneath 37 in January. Nevertheless, search figures from the US deviated from global trends by rebounding sharply to 56 during the opening week of February.
For the US market, the annual low point stands at 32, a figure that was registered during the market downturn in April 2025 triggered by tariff policy decisions from US President Donald Trump.
Trading volume across cryptocurrency markets has experienced a substantial decline, with aggregate market volume falling from a peak exceeding $153 billion on Jan. 14 to approximately $87.5 billion by Sunday, based on data from CoinMarketCap.
Data tracking Google search volume is frequently utilized as a measurement of investor confidence and aligns with alternative sentiment metrics such as the Crypto Fear & Greed Index, a market tool employed to assess collective investor emotion.
Investor sentiment craters as Fear & Greed Index hits record lows
On Thursday, the Crypto Fear & Greed Index plummeted to an unprecedented low of 5, though it climbed modestly to 8 by Sunday, based on CoinMarketCap data. Nevertheless, both readings indicate "extreme fear" pervading the markets.
Current sentiment among cryptocurrency investors has descended to levels comparable to those witnessed in the aftermath of the Terra ecosystem's implosion and the failure of its dollar-pegged stablecoin in 2022.
The Terra ecosystem's failure reverberated throughout the cryptocurrency industry, initiating a series of cascading liquidations that intensified the bear market of 2022.
Market participants are presently seeking social indicators suggesting the cryptocurrency market has reached its floor in order to optimize their entry points, based on analysis from Santiment, a market sentiment tracking platform.
"Crowd sentiment is fiercely bearish. The ratio of positive to negative commentary has collapsed, with negative comments hitting their highest point since December 1st," Santiment said in a report published Friday.