The current CFGI sentiment index shows ‘extreme fear,’ with Bitcoin’s price down 39% from its all-time high. The value of digital currencies has plummeted by billions of dollars in the previous week, with the leading crypto-asset bitcoin (BTC) losing about 10% of its value.
Bitcoin price lowest since Sept 2021
The price touched its lowest point since the end of September 2021 on Saturday, January 8, 2022, with a low of $40,517 per unit today afternoon.
On Saturday, Bitcoin’s worldwide trading volume was at $23.6 billion. Tether (USDT) is BTC’s most popular trading pair, accounting for 61.46% of today’s deals. FTX.US was the most popular Bitcoin exchange on Saturday, followed by Coinbase, Bitfinex, Kraken, and Bitstamp. BTC’s worldwide trading volume accounts for just 23.69% of the $99.6 billion in transactions across all crypto assets. While Bitcoin (BTC) has a global trading volume of $23.6 billion, tether (USDT) has a global trade volume of $46.7 billion.
Overview of The Crypto Fear & Greed Index (CFGI)
On Saturday, BTC traded in a 24-hour range of $40,517.66 to $42,702.09. The Crypto Fear & Greed Index (CFGI) is a web portal alternative that hosts the Crypto Fear & Greed Index (CFGI). The current CFGI score is 10, as shown by me. As the technology “analyses feelings and sentiments from several sources and crunches them into one simple number,” this refers to “severe terror.”
The CFGI score hasn’t been this low since the summer of 2021, almost 171 days ago. The score had shifted dramatically from yesterday when the CFGI recorded a feeling level of 18 for “severe terror.” The CFGI score was 21 last week and 29 30 days ago.
Bitcoin (BTC) is only up 6.4% year to far as of Saturday, January 8, 2022. On the other hand, BTC has dropped 39% from its all-time high (ATH) on November 10, 2021.
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Source: https://coingape.com/crypto-fear-and-greed-index-score-hits-5-month-low-points-to-extreme-fear/