Bitcoin may set a string of records in 2025, but the enthusiasm of the general public is running out of steam dangerously. Between the drop in Google searches and the fall in market sentiment, the warning signs are multiplying. Have individual investors definitively turned their backs on the queen of cryptos?
In brief
- Search interest for “Bitcoin” on Google drops to 19, its lowest level in months.
- Spot demand contracts by 111,000 BTC over 30 days, the largest decline since April.
- The Crypto Fear and Greed Index plunges to 24, reflecting a widespread sense of “fear.”
- Individuals remain behind despite the multiple historic records reached by bitcoin this year.
The general public no longer follows the rise of Bitcoin
Bitcoin is experiencing a troubling paradox in 2025. While its price regularly reaches new historic highs, individual investors are massively deserting the market.
THE CryptoQuant data reveal a sharp contraction in spot demand. The pace reached 111,000 BTC over 30 days, a level not seen since last April.
“ This signals a shift towards bearish conditions », Alert CryptoQuant analysts in their weekly report. This development contrasts radically with past habits.
Individuals traditionally entered the market during phases of euphoria, driven by the FOMO effect. Today, even records are no longer enough to attract crowds.
Figures from Google Trends confirm this worrying disaffection. Interest in the term “Bitcoin” fell to 19 last week, a “bear market” score according to trader Mister Crypto. This weakness coincides with the flash crash of the previous Friday, which clearly dampened the enthusiasm of novice investors.
The Coinbase application perfectly illustrates this decline. Ranked 3rd in the American App Store in January, it is now languishing in 29th position. The peak in demand dates back to November 2024, when the application jumped from 55th to 3rd place in less than a month. Since then, it has been a continuous decline.
Fear takes hold on the crypto market
The general sentiment of the crypto market is going through a dark period. The Crypto Fear and Greed Index collapsed to 24 last Thursday, a dizzying drop of 47 points in a matter of days. The level was still at 71 the previous Friday, in the “greed” zone.
This brutal deterioration recalls the darkest hours of the sector. The index reaches the levels observed in April 2025, when bitcoin bottomed at $74,000. Even more worrying, it now reflects scores recorded during the bear markets of 2018 and 2022.
Friday's sell-off caused more than $20 billion in liquidations on centralized platforms. This earthquake profoundly shook investor confidence. Axel Adler Jr., analyst at CryptoQuant, observes that the Bitcoin Unified Santiment Index is in “extremely bearish zone”. It combines three components: the Fear and Greed Index, CoinGecko votes, and one-year normalization.
“ Currently, sentiment is in an extremely bearish zone, similar to the stress points seen in 2024 and April 2025 », Explains the analyst.
This suggests that investors are on the defensive, participation is low, and risk appetite is low despite BTC prices being relatively stable around cycle highs.
However, a glimmer of hope remains. The Coinbase Premium Index has remained positive during the recent turmoil. This signal demonstrates some short-term market resilience and suggests that institutional investors are maintaining their confidence.
Moreover, 172 companies now hold 1.02 million bitcoins, proof that professional adoption continues to progress despite the reluctance of individuals.
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