I noticed an interesting thing while looking at Google Trends data. Searches for 'bitcoin zero' in the United States peaked in February, right when BTC was dropping toward $60,000 after the October peak crash. It seems like widespread panic among small American investors, doesn't it? But here’s the plot twist: globally, the same term reached its all-time high in August, and has been declining since then. The fear is concentrated in the USA, not worldwide. In previous years, similar peaks in 2021 and 2022 coincided with local lows, so it could be a contrarian signal. However, there’s a technical detail that shouldn’t be overlooked. Google Trends measures relative interest on a scale of 0-100, not raw volume. A score of 100 today, when the Bitcoin user base is much larger than two years ago, doesn’t necessarily mean more people are searching in absolute terms. It only indicates that the term has reached a relative peak. Considering also that macroeconomic catalysts in the USA (tariffs, geopolitical tensions, rotation into less risky assets) may have influenced American investors more, the picture becomes more nuanced. Retail fear is clearly high in the United States, but this doesn’t guarantee a clear trend reversal as it might seem at first glance.