Google searches for bitcoin surged to a 12-month high in early February after prices collapsed from about $81,500 to $60,000 in less than a week amid extreme volatility.
Google Trends data show global search interest hit the maximum score of 100 during the first week of February, coinciding with the sharpest bitcoin selloff since late 2024.
Analysts said the spike points to renewed retail attention, with Bitwise’s Europe head describing the move as “a return of retail trading” despite a backdrop of extreme market fear.
The selloff was intensified by a technical error at South Korean exchange Bithumb, which briefly overcredited users with more than $40 billion worth of bitcoin, triggering panic selling.
Broader pressure also came from multi-asset deleveraging, as weakness in US technology stocks forced investors to liquidate crypto positions to meet margin calls elsewhere.
On-chain stress added to bearish signals after bitcoin’s mining difficulty recorded its largest drop since 2021, reflecting miners switching off equipment amid falling revenues.
The episode underlines a recurring pattern in crypto markets, where public interest tends to peak during sharp declines rather than sustained price rallies.