In an effort to overcome the problem that the traditional stochastic resonance system cannot adjust the structural parameters adaptively in bearing fault-signal detection, this article proposes an adaptive-parameter bearing fault-detection method. First of all, the four strategies of Sobol sequence initialization, exponential convergence factor, adaptive position update, and Cauchy–Gaussian hybrid variation are used to improve the basic grey wolf optimization algorithm, which effectively improves the optimization performance of the algorithm. Then, based on the multistable stochastic resonance model, the structure parameters of the multistable stochastic resonance are optimized through improving the grey wolf algorithm, so as to enhance the fault signal and realize the effective detection of the bearing fault signal. Finally, the proposed bearing fault-detection method is used to analyze and diagnose two open-source bearing data sets, and comparative experiments are conducted with the optimization results of other improved algorithms. Meanwhile, the method proposed in this paper is used to diagnose the fault of the bearing in the lifting device of a single-crystal furnace. The experimental results show that the fault frequency of the inner ring of the first bearing data set diagnosed using the proposed method was 158 Hz, and the fault frequency of the outer ring of the second bearing data set diagnosed using the proposed method was 162 Hz. The fault-diagnosis results of the two bearings were equal to the results derived from the theory. Compared with the optimization results of other improved algorithms, the proposed method has a faster convergence speed and a higher output signal-to-noise ratio. At the same time, the fault frequency of the bearing of the lifting device of the single-crystal furnace was effectively diagnosed as 35 Hz, and the bearing fault signal was effectively detected.