On January 8, 2022, the bitcoin price dropped to $40,517 per unit just after 1 p.m. (EST) on Saturday afternoon. According to the Crypto Fear & Greed Index (CFGI), emotions are showing “extreme fear” in the air, and the CFGI score is 10. The last time the CFGI score was this low was 171 days ago on July 21, 2021.
Current CFGI Sentiment Shows ‘Extreme Fear’ – Bitcoin Price Is 39% Below All-Time High
Cryptocurrency markets shed billions in value this past week and the leading cryptocurrency Bitcoin (BTC) has lost nearly 10% over the past seven days. On Saturday, January 8, 2022, the price reached its lowest level since the end of September 2021, recording a low of $40,517 per unit this afternoon.
The global trade volume of Bitcoin on Saturday was about $23.6 billion. The largest trading pair for Bitcoin is Tether (USDT) which accounts for 61.46% of all trades today. It is followed by the US dollar (14.73%), the US dollar (6.79%), the Korean won (3.64%), the Japanese yen (3.27%) and the euro (3.21%).
The largest BTC exchange on Saturday is FTX.US, followed by Coinbase, Bitfinex, Kraken and Bitstamp. Today, the global trade volume of BTC represents only 23.69% of the $99.6 billion in transactions between all assets in the crypto economy. While BTC accounts for $23.6 billion in trade volume, Tether (USDT) accounts for $46.7 billion in trade volume worldwide.
Bitcoin Fear and Greed Indicator is 10
Current price: 42,290 dollars pic.twitter.com/j477q3iSjV
Bitcoin Fear and Greed Indicator January 8, 2022
The 24-hour range of BTC on Saturday is $40,517.66 to $4,2702.09. The Crypto Fear & Greed Index (CFGI) hosted on the alternative web portal .me has a current CFGI score of 10. This stands for “extreme fear” as the tool “analyses sentiment and sentiments from various sources and aggregates them into one simple number.”
The CFGI score hasn’t been this low since the summer, on July 21, 2021, which was about 171 days ago. The score has changed a lot since yesterday, when the CFGI recorded a feeling of “extreme fear” score at 18. Last week the CFGI score was 21, and 30 days ago it was 29.
Year-to-date Bitcoin (BTC) price soared on Saturday, January 8, 2022, and Bitcoin is up just 6.4%. However, bitcoin is down 39% since its all-time high (ATH) two months ago on November 10, 2021. However, bitcoin has surged, 61,932.6% since July 6, 2013, or eight years ago when it was $67.81 per coin. .
What do you think of the result of the Crypto Fear & Greed Index today? Tell us what you think about it in the comments section below.
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