Changpeng Zhao, the founder of Binance, said on October 23 that earlier “Bitcoin is dead” claims have often marked the best times to buy. His comment comes as Google searches for the phrase hit their highest level since the FTX collapse in November 2022, according to data reported on October 18.
Bitcoin trades near $80,530, about 36.1% below its all-time high and down 27.4% over the past year. Zhao made a similar call in June, when searches for the phrase also peaked. Bitcoin has since risen 39.5% from its July 1 low of $57,718, which 24/7 Wall St treats as validation of that call.
The article adds a caveat. Such claims tend to arrive early, and bitcoin sometimes kept falling for months before rebounding, so a spike in “dead” searches is not a timing signal on its own.
Sentiment itself is not extreme. The Crypto Fear & Greed Index sat at a neutral 46, which contrasts with the surge in search interest. Retail curiosity about a possible collapse is rising faster than measured fear in the market.
The comment lands after a rough week. Bitcoin fell below $80,000 on Saturday, spot ETFs recorded their largest outflow since June, and traders now look to the Fed meeting on October 27-28. The $83,000 level on the weekly close and the $80,000 support are the levels many analysts are watching. This is commentary on sentiment, not investment advice.
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