Are you seeing this decline in interest in crypto? The search volume on Google for the term 'crypto' has dropped significantly, now at 30 out of 100, practically at the 12-month low. A while back, in August 2025, it was at 100, which was the peak of the cycle. Now, we see the market really shrinking.

The numbers confirm it: market cap plummeted from over $4.2 trillion to around $2.4 trillion. Trading volume also dropped a lot, from $153 billion to $87.5 billion over the weekend. Serious stuff. In the U.S., there was an interesting thing — search interest briefly diverged in February, rising to 56, but then fell back down. It seems it was just a brief pause.

The sentiment is fiercely pessimistic right now. The Fear & Greed Index is at 5, then rose to 8, but everything is still in 'extreme fear.' Santiment said that investor comments have become decisively negative, with the proportion of negative comments at the highest level since December. This kind of sentiment is comparable to what we saw in 2022 with the Terra-LUNA collapse. Everything is very fragile, traders are watching every sign of stabilization.