Bitcoin sentiment sinks to extreme fear as "crypto capitulation" Google searches surge 427%

On February 8 2026, market data showed Bitcoin sliding toward $60,000, dragging the Crypto Fear & Greed Index down into an extreme fear zone with readings as low as 7–11 out of 100. Over the past week, Google Trends recorded a jump in "crypto capitulation" searches from 11 to 58, a 427% increase, while on-chain and social metrics from analytics firms pointed to elevated talk of capitulation, liquidations and a possible market bottom.