Crypto Worry and Greed Index Rating Hits 5 Month Low, Analyzed Sentiment Factors to ‘Excessive Worry’

On January 8, 2022, the worth of bitcoin dropped to $40,517 per unit simply after 1 p.m. (EST) on Saturday afternoon. In response to the Crypto Worry & Greed Index (CFGI), sentiment exhibits “excessive worry” 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.

Present CFGI Sentiment Exhibits ‘Excessive Worry’ — Bitcoin’s Value 39% Decrease Than All-Time Excessive

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 because the 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 right this moment. That is adopted by USD (14.73%), BUSD (6.79%), KRW (3.64%), JPY (3.27%), and EUR (3.21%).

BTC’s high change on Saturday is FTX.US, adopted by Coinbase, Bitfinex, Kraken, and Bitstamp. BTC’s international commerce quantity right this moment solely represents 23.69% of the $99.6 billion in trades amongst all of the belongings within the crypto economic system. Whereas BTC instructions $23.6 billion in commerce quantity, tether (USDT) captures $46.7 billion in commerce quantity worldwide.

Bitcoin Worry and Greed Index is 10 – Excessive Worry
Present worth: $42,290

— Bitcoin Worry 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 Worry & Greed Index (CFGI) hosted on the internet portal signifies the present CFGI rating is 10. This factors to “excessive worry” because the instrument “analyzes feelings and sentiments from totally different sources and crunch them into one easy quantity.”

The CFGI rating hasn’t been this low because the summer time, on July 21, 2021, which was roughly 171 days in the past. The rating has modified a terrific deal since even yesterday, when the CFGI recorded the “excessive worry” sentiment rating at 18. Final week the CFGI rating was 21, and 30 days prior it was 29.

Yr-to-date, bitcoin (BTC) on Saturday, January 8, 2022, BTC is barely up 6.4%. Nevertheless, 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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