Google searches for “Bitcoin going to zero” have climbed to levels not seen since the FTX crisis in November 2022, according to Google Trends. The spike coincides with Bitcoin’s decline from its October 2025 all-time high near $126,000 to roughly $66,500, down nearly 50%. The Bitcoin Fear and Greed Index has fallen to extreme fear levels around 9, matching prior crises like the Terra collapse and FTX fallout.
Analysis from crypto intelligence firm Perception indicates that this surge is primarily driven by macroeconomic concerns and amplification of bearish narratives, particularly from media commentators such as Bloomberg’s Mike McGlone. Retail investors appear to be reacting to media saturation, with searches lagging professional sentiment by approximately two weeks.
Macro Uncertainty and Quantum Concerns
The spike in fear-driven searches occurs amid record-high global uncertainty, with the World Uncertainty Index reaching levels exceeding peaks during the 2008 financial crisis and the 2020 COVID‑19 shock. While quantum-computing risks for Bitcoin have been discussed in the media since late 2025, these concerns tend to intensify alongside price drops rather than acting as standalone catalysts.
Despite heightened retail anxiety, institutional investors are continuing to accumulate Bitcoin. Sovereign wealth funds, including Abu Dhabi, and corporations such as Strategy have increased holdings through ETFs and other positions, signaling confidence in BTC’s long-term value. Experts note this divergence between retail fear and institutional behavior underscores the differing timeframes and risk appetites between market participants.
Overall, the recent Google search trends highlight heightened public attention to Bitcoin’s downside risks while illustrating the broader context of institutional accumulation, macro uncertainty, and media-driven sentiment.
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