When fears reach a peak: why Bitcoin is once again at the center of debate about collapse

Google Trends analytical data shows a sharp spike in interest in extreme Bitcoin crash scenarios. This wave of search queries reflects deep investor concerns that have now reached a new peak. The parallels with November 2022 are obvious: back then, the collapse of the FTX crypto exchange and withdrawal freezes also triggered widespread searches about the potential destruction of BTC value.

However, the nature of these fears has radically transformed. If a few years ago, panic was fueled by internal industry upheavals — bankruptcies of major lenders, the collapse of centralized platforms — today, anxiety is generated by entirely different factors.

Evolution of concerns: from internal crises to external threats

Fernando Nicolich, founder of the analytical firm Perception, highlights a key difference between previous and current waves of panic. The crypto crises of 2022 resulted from systemic failures within the ecosystem. Today’s fears are more structural: macroeconomic risks, geopolitical uncertainty, and financial market instability.

When pessimism becomes louder: the media’s role in amplifying fears

Media resonance plays a significant role in fueling concerns. Bloomberg analyst Mike McGlone has repeatedly forecasted the possibility of BTC falling to zero. Repeated quoting of such forecasts in the information space creates an illusion of consensus and boosts search interest in catastrophic scenarios. Meanwhile, optimistic viewpoints remain less noticeable and less discussed.

Behavioral contrast in the crypto market

Search statistics paint an interesting picture of differing behaviors among market participants. While retail investors actively seek articles about potential crashes and deeply engage with catastrophic scenarios, institutional players follow a diametrically opposite strategy.

Sovereign funds, including investment structures in Abu Dhabi, demonstrate a systematic increase in positions in spot Bitcoin ETFs. Companies like Strategy continue to grow their BTC reserves despite waves of panic in the retail sector. This asymmetry in behavior creates an intriguing market dynamic, where fears and accumulation occur simultaneously.

Multiple threats converging into peak anxiety

Beyond macroeconomic factors, the scenario is complicated by fears related to the development of quantum computing. Concerns about potential threats to cryptographic security also contribute to the overall background of anxiety. However, Nicolich emphasizes that such technological risks are more of a secondary factor, becoming more prominent during price declines rather than being a primary driver of panic.

The combination of three factors — macroeconomic uncertainty, negative media narratives, and technological threats — creates a perfect storm for reaching a peak in search queries about Bitcoin’s collapse.

Global macro factors in focus

Economist Peter Schiff from Euro Pacific Capital adds another dimension to the debate, pointing to potential risks of US dollar weakening. He estimates that Bitcoin could be a particularly vulnerable asset in scenarios of global currency revaluation, losing value faster than alternative instruments.

The current BTC price at $65.85K shows that despite peak fears in search trends, the market continues to function and remains relatively stable. The contrast between the intensity of fears and the actual price behavior remains one of the most intriguing features of the modern crypto market.