Search queries for the term “cryptocurrency” on Google have neared a yearly low. At the time of writing, the figure stands at 27 out of 100.
The lowest point was recorded at 25 in late April, when Bitcoin fell to $76,000 in response to new import tariffs introduced by Donald Trump.
The current market apathy may be echoes of the crash on October 10-11, which led to liquidations amounting to a record $19 billion.
Trader Mario Nawfal noted the near-total lack of interest in cryptocurrencies from retail investors.
There is close to no retail interest in crypto right now
Do we need to start pumping the dino coins again to get retail to come back?
After the Trump/Melania memecoin drama it seems that retail lost a lot of faith in the space
None of my normie friends or family ask me… pic.twitter.com/ZNnOwT4FKe
— 0xMarioNawfal (@RoundtableSpace) December 27, 2025
Bearish Sentiment
The Fear and Greed Index has remained in the extreme zone for over two weeks. The current reading is 24 points.
An analyst using the pseudonym Darkfost stated that “investor consensus has shifted to the bearish side.”
🔴 The general consensus has turned bearish.
This is visible on this chart, which is based on media articles, data from X, and several other sentiment indicators.
💥 When a shared consensus forms, the market tends to reverse and prove the majority wrong.
We observed this… pic.twitter.com/lXBwaymTiK
— Darkfost (@Darkfost_Coc) December 28, 2025
According to him, such dynamics often precede a market trend reversal. This pattern was also observed from July to October 2024 and February to April 2025.
The current “bearish consensus” began forming in November. Darkfost noted that such phases can be prolonged, especially in a pronounced downtrend.
“While this indicator suggests a more bullish sentiment, it is crucial to remain cautious and patient during a prolonged decline,” he added.
Back in earlier reports, on-chain analyst known as Woominkyu suggested a scenario where Bitcoin could enter a bearish phase.
Despite widespread pessimism, some experts anticipate new highs for cryptocurrency next year.