Crypto Fear and Greed Index Score Hits 5 Month Low, Analyzed Sentiment Points to ‘Extreme Fear’

On January 8, 2022, the worth 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 “excessive concern” 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 near 10% over the last seven days. On Saturday, January 8, 2022, the worth hit its lowest level for the reason that finish of September 2021, tapping a low of $40,517 per unit this afternoon.

Bitcoin’s world 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 as we speak. This is adopted by USD (14.73%), BUSD (6.79%), KRW (3.64%), JPY (3.27%), and EUR (3.21%).

BTC’s prime trade on Saturday is FTX.US, adopted by Coinbase, Bitfinex, Kraken, and Bitstamp. BTC’s world commerce quantity as we speak solely represents 23.69% of the $99.6 billion in trades amongst all of the belongings 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 worth: $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 internet portal different.me signifies the present CFGI rating is 10. This factors to “excessive concern” because the device “analyzes feelings and sentiments from totally different sources and crunch them into one easy quantity.”

The CFGI rating hasn’t been this low for the reason that summer season, on July 21, 2021, which was roughly 171 days in the past. The rating has modified an ideal deal since even yesterday, when the CFGI recorded the “excessive concern” 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 barely 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, nevertheless, 61,932.6% since July 6, 2013, or eight years in the past when it was $67.81 per coin.

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