Google's search index for the keyword "crypto" has fallen to 30/100, its lowest level in nearly a year, while the total market Capital has plummeted from $4.2 trillion to $2.4 trillion.
Global interest in crypto assets is at its lowest level in nearly a year, reflected in the Google Trends search volume for the keyword "crypto," which is currently only 30 out of 100, where 100 is the highest level of interest. The most recent peak coincided with the period when market Capital peaked in August 2023, while the 12-month Dip was at 24.
This downward trend coincides with the sharp decline in the total market Capital of cryptocurrencies from a record high of $4.2 trillion to approximately $2.4 trillion currently, equivalent to a 43% decrease.
Bitcoin recently dropped below $64,000, and many other major Token also recorded significant declines, further eroding market confidence. Daily volume, according to data from CoinMarketCap, plummeted from over $153 billion on January 14th to approximately $87.5 billion last Sunday, reflecting weakened trading activity across the market.
Investors' psychology has fallen into a state of extreme fear.
In the US, the picture is somewhat different, with search interest reaching 100 in July 2025 but falling below 37 in January 2026, before recovering to 56 in early February. The lowest search level in the US was recorded around 32 during the market crash in April 2025, a period believed to have been impacted by President Donald Trump's tariff policies.
However, analysts suggest that despite signs of warming in the US, global trends still indicate a significantly lower market temperature compared to previous peak cycles.
The Crypto Fear & Greed Index, a measure of market sentiment, bottomed Dip at 5 on Thursday and edged up to 8 on Sunday, both levels classifying it as extreme fear, comparable to the levels seen after the Terra ecosystem collapse in 2022. The sentiment tracking platform Santiment noted intensely pessimistic crowd sentiment, with the ratio of positive to negative comments plummeting and negative comments reaching their highest level since December 1st.
Many traders are staying on the sidelines, waiting for signs that the market has Dip before making any new moves. Experts suggest monitoring both sentiment and trend-following indicators to identify signs of recovery, while some long-term investors XEM this as an opportunity to accumulate at lower prices but are advised to remain cautious as volatility is expected to continue.
