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

Parasshuram Shalgar
January 10, 2022 Updated August 14, 2024
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Crypto Fear and Greed Index Score Hits 5 Month Low, Points to 'Extreme Fear'

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.

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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.

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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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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Parasshuram has been online in various capacities as a pro-blogger, top researcher, and now a senior editor at CoinGape.com. He has over 14 years of experience in the field of online publishing. Mr Shalgar can be reached at [email protected].
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.