Google searches for the term "debasement" have reached historic highs this quarter, indicating growing public concern over the stability of the US dollar. This trend was highlighted by BarChart on Sunday, with a chart sourced from Bloomberg and Google Trends gaining significant traction across cryptocurrency social media platforms.
Analysis of Google Trends data reveals that while searches for "debasement" saw a spike in 2012, recent weeks have witnessed the highest levels ever recorded in the United States for the specific phrase "dollar debasement."
Google Searches for Dollar “Debasement” soared this quarter to the highest level in history 🚨🚨🚨 pic.twitter.com/qJJFqd5b5h
— Barchart (@Barchart) December 6, 2025
DXY Declines as M2 Supply Increases
This surge in searches coincides with a challenging year for the US dollar, which has depreciated by over 10% against certain global currencies. The US Dollar Index (DXY), a key indicator of the dollar's strength against a basket of major currencies, has experienced a notable decline throughout the year.
After remaining within a defined range from late 2022 to late 2024, the DXY reached a two-year peak of 110 in January 2025. However, it subsequently experienced a significant drop of more than 12%, reaching a three-year low of 96.3 in mid-September. Current data shows the DXY trading only slightly above this low point, reflecting a steady weakening of the dollar against numerous international currencies.
The concept of a "debasement trade" has also gained prominence this year, as investors actively seek strategies to mitigate exposure to the depreciating currency. Entrepreneur Anthony Pompliano noted in October that financial institutions are increasingly recognizing the inevitability of continuous money printing by central banks.
This phenomenon is further underscored by the M2 money supply, which has climbed to an all-time high of $22.3 trillion. With the Federal Reserve transitioning from quantitative tightening (QT) to quantitative easing (QE), an increase in liquidity and money printing is anticipated, which is expected to further debase the dollar.
Favorable Macroeconomic Conditions for Cryptocurrency
"This chart represents one of the most significant signals for the cryptocurrency market at present," stated analyst "Bull Theory" on Sunday. The analyst elaborated that if the Federal Reserve initiates T-bill purchases in conjunction with interest rate cuts, the resulting liquidity impact will be substantial.
This scenario is predicted to weaken the dollar and trigger a liquidity expansion, historical patterns of which have demonstrated a strong positive correlation with cryptocurrency market performance. The current macroeconomic environment is being described as one of the most robust for Bitcoin and altcoins since the 2020-21 cycle.
“This is one of the strongest macro setups Bitcoin and altcoins have had since the 2020-21 cycle.”