Just after noon EST on Saturday, January 8, 2022 the bitcoin price dropped to $40.517 per unit. According to the Crypto Fear & Greed Index (CFGI), sentiment shows “extreme fear” is in the air, and the CFGI score is a 10. Last time this low CFGI score occurred was July 21st 2021, 171 days.
Current CFGI Sentiment Shows ‘Extreme Fear’ — Bitcoin’s Price 39% Lower Than All-Time High
The digital currency markets lost billions of dollars this week, and bitcoin (the most popular crypto asset) suffered a drop of close to 10% in the past seven days. The price reached its lowest level since September 2021 on Saturday, 8 January 2022. It was at $40,517 an unit.
Bitcoin’s global trade volume on Saturday is roughly $23.6 billion. BTC’s largest trading pair is tether (USDT) which commands 61.46% of all trades today. It is followed by USD (14.73%), BUSD (6.9%), KRW (3.644%), JPY (3.2%), EUR (3.21%).
BTC’s top exchange on Saturday is FTX.US, followed by Coinbase, Bitfinex, Kraken, and Bitstamp. BTC’s global trade volume today only represents 23.69% of the $99.6 billion in trades among all the assets in the crypto economy. BTC has $23.6 billion of trade volume. However, USDT captures $46.7 million in global trade volume.
Bitcoin Fear and Greed Index is 10 – Extreme Fear
Current price: $42,290 pic.twitter.com/j477q3iSjV
— Bitcoin Fear and Greed Index (@BitcoinFear) January 8, 2022
BTC’s 24 hour range on Saturday has been between $40,517.66 to $42,702.09. The Crypto Fear & Greed Index (CFGI) hosted on the web portal alternative.me indicates the current CFGI score is 10. This points to “extreme fear” as the tool “analyzes emotions and sentiments from different sources and crunch them into one simple number.”
The CFGI score hasn’t been this low since the summer, on July 21, 2021, which was roughly 171 days ago. The score has changed a great deal since even yesterday, when the CFGI recorded the “extreme fear” sentiment score at 18. The CFGI score last week was 21 and the 30 day prior was 29.
BTC (BTC), year-to-date on Saturday January 8, 2022 was only 6.4%. BTC’s all-time high (ATH), which occurred two months ago, on November 10, 20,21 is 39% less than it was three months earlier. Bitcoin is now up 61.932.6%, or $8.81/coin, since July 6, 2013.
What do you think about the Crypto Fear & Greed Index score today? Please comment below to let us know your thoughts on this topic.
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