On January 8, 2022, the price of bitcoin dropped to $40,517 per unit just after 1 p.m. (EST) on Saturday afternoon. According to the Crypto Fear & Greed Index (CFGI), sentiment shows “extreme fear” is in the air, and the CFGI score is a 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
The digital currency markets lost billions in value last week, and the main crypto asset bitcoin (BTC) has lost nearly 10% in the past seven days. On Saturday, January 8, 2022, the price hit its lowest point since late September 2021, hitting a low of $ 40,517 per unit this afternoon.
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. This is followed by USD (14.73%), BUSD (6.79%), KRW (3.64%), JPY (3.27%), and EUR (3.21%).
The main BTC exchange on Saturday is FTX.US, followed by Coinbase, Bitfinex, Kraken and Bitstamp. Global BTC trading volume today only accounts for 23.69% of the $ 99.6 billion in transactions among all assets in the crypto economy. While BTC commands $ 23.6 billion in trade volume, Tether (USDT) captures $ 46.7 billion in global trade volume.
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 has not been this low since the summer of July 21, 2021, approximately 171 days ago. The score has changed a lot since yesterday again, when the CFGI recorded the feeling of “extreme fear” score of 18. Last week the CFGI score was 21 and 30 days earlier it was 29.
Year-to-date, bitcoin (BTC) on Saturday, January 8, 2022, BTC is only up 6.4%. However, BTC is down 39% lower since its all-time high (ATH) two months ago on November 10, 2021. Bitcoin is up, however, 61,932.6% since July 6, 2013, or eight years ago when it was $67.81 per coin.
