On January 8, 2022, the price of bitcoin dropped to $40,517 per unit simply after 1 p.m. (EST) on Saturday afternoon. According to the Crypto Fear & Greed Index (CFGI), sentiment reveals “extreme fear” is within the air, and the CFGI rating is a ten. The final time the CFGI rating was this low was 171 days in the past on July 21, 2021.
Current CFGI Sentiment Shows ‘Extreme Fear’ — Bitcoin’s Price 39% Lower Than All-Time High
Digital foreign money markets shed billions in worth this previous week and the main crypto asset bitcoin (BTC) misplaced shut to 10% over the past seven days. On Saturday, January 8, 2022, the price hit its lowest level for the reason that finish of September 2021, tapping a low of $40,517 per unit this afternoon.
Bitcoin’s international commerce quantity on Saturday is roughly $23.6 billion. BTC’s largest buying and selling pair is tether (USDT) which instructions 61.46% of all trades in the present day. This is adopted by USD (14.73%), BUSD (6.79%), KRW (3.64%), JPY (3.27%), and EUR (3.21%).
BTC’s prime change on Saturday is FTX.US, adopted by Coinbase, Bitfinex, Kraken, and Bitstamp. BTC’s international commerce quantity in the present day solely represents 23.69% of the $99.6 billion in trades amongst all of the property within the crypto financial system. While BTC instructions $23.6 billion in commerce quantity, tether (USDT) captures $46.7 billion in commerce quantity worldwide.
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 vary on Saturday has been between $40,517.66 to $42,702.09. The Crypto Fear & Greed Index (CFGI) hosted on the net portal various.me signifies the present CFGI rating is 10. This factors to “extreme fear” because the software “analyzes emotions and sentiments from different sources and crunch them into one simple number.”
The CFGI rating hasn’t been this low for the reason that summer time, on July 21, 2021, which was roughly 171 days in the past. The rating has modified a fantastic deal since even yesterday, when the CFGI recorded the “extreme fear” sentiment rating at 18. Last week the CFGI rating was 21, and 30 days prior it was 29.
Year-to-date, bitcoin (BTC) on Saturday, January 8, 2022, BTC is just up 6.4%. However, BTC is down 39% decrease since its all-time excessive (ATH) two months in the past on November 10, 2021. Bitcoin is up, nonetheless, 61,932.6% since July 6, 2013, or eight years in the past when it was $67.81 per coin.
What do you consider the Crypto Fear & Greed Index rating in the present day? Let us know what you consider this topic within the feedback part under.
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