I've noticed while observing the U.S. coin market that recently, the keyword "Bitcoin Zero" recorded its highest search volume ever on Google. This happened amid Bitcoin dropping over 50% from its October peak, heading toward $60k. As of February, the search interest in the U.S. reached a relative scale of 100. This indicates that retail investors' fear is quite high.

What's interesting is that the global trend is completely different. Worldwide, searches for the same keyword peaked in August and have been steadily declining since then. Only in the U.S. is there a sharp rise now. The same pattern occurred in 2021 and 2022, where the peak in U.S. searches coincided with a local bottom, which could serve as a contrarian signal. However, Google Trends only measures relative interest, and if the user base has expanded, the absolute number of searches might not have increased even if the index hits 100. Therefore, it doesn't guarantee a definite reversal.

The reason U.S. investors are reacting so sensitively is likely due to the impact of local macro factors such as escalating tariffs and geopolitical risks. They are in a different news cycle compared to Asian and European investors, which probably intensifies the psychological pressure on the coin market. Wall Street analysts are also repeatedly lowering earnings forecasts for major companies like Coinbase, and trading volumes have fallen to their weakest levels since the end of 2023.