- 1. Bitcoin under $80,000 traded at $75,143, down 0.9% on Oct. 10 per CoinGecko.
- 2. Fear & Greed Index at 27 signals extreme fear per Alternative.me.
- 3. ETF net inflows reached $18.5 billion, led by BlackRock per Bloomberg.
Bitcoin traded at $75,143 on Oct. 10, 2024, down 0.9% in 24 hours, according to CoinGecko. The Crypto Fear & Greed Index stood at 27, per Alternative.me, indicating extreme fear.
Ethereum traded at $2,302.08, down 2.4%. XRP traded at $1.42, down 1.0%. BNB traded at $622.92, down 1.6%. USDT held at $1.00.
Fear & Greed Index Breakdown
The index, developed by Alternative.me, ranges from 0 (extreme fear) to 100 (extreme greed). Scores below 30 signal fear, per Christian Bentzke, lead developer at Alternative.me, in a September 2024 CoinDesk interview.
Bitcoin rallied from prior lows. After a May 2021 reading of 12, it rose 300% in six months, per CoinGecko charts.
Cryptocurrency Prices on Oct. 10
Bitcoin showed the smallest drop among top coins.
- Cryptocurrency: Bitcoin (BTC) · Price (USD): $75,143.00 · 24h Change: -0.9% · Market Cap (USD): $1.49 trillion
- Cryptocurrency: Ethereum (ETH) · Price (USD): $2,302.08 · 24h Change: -2.4% · Market Cap (USD): $277 billion
- Cryptocurrency: XRP · Price (USD): $1.42 · 24h Change: -1.0% · Market Cap (USD): $81 billion
- Cryptocurrency: BNB · Price (USD): $622.92 · 24h Change: -1.6% · Market Cap (USD): $91 billion
- Cryptocurrency: USDT · Price (USD): $1.00 · 24h Change: 0.0% · Market Cap (USD): $119 billion
CoinGecko provided data as of 14:00 UTC on Oct. 10, 2024.
Bitcoin ETF Inflows
Spot Bitcoin ETFs, SEC-approved on Jan. 10, 2024, drew capital. BlackRock's IBIT recorded $212 million inflows on Oct. 9, per James Seyffart, Bloomberg ETF analyst, in an Oct. 10 X post.
Net inflows totaled $18.5 billion since launch as of Oct. 9, per Farside Investors data cited by Eric Balchunas, Bloomberg ETF analyst, in an Oct. 10 report.
Ethereum spot ETFs, launched July 23, 2024, had $78 million inflows last week, per Farside.
Economic Factors
Federal Reserve Sept. 18, 2024, FOMC minutes, released Oct. 9, indicated possible 25 basis-point cuts. CME FedWatch Tool showed 92% odds for November.
EU MiCA rules take effect for stablecoins Dec. 30, 2024. Tether CEO Paolo Ardoino noted compliance benefits in an Oct. 8 blog post.
Bitcoin's April 19, 2024, halving reduced rewards to 3.125 BTC. Circulating supply reached 19.72 million of 21 million, per Glassnode Studio.
On-Chain Data
Glassnode reported Bitcoin hash rate at 620 EH/s on Oct. 10, up 5% week-over-week. Daily active addresses rose 12% to 850,000.
Token Metrics CEO Ian Balina said on Oct. 9 that Fear Index readings below 30 preceded 25% rallies in 30 days, based on machine learning models trained on 2017-2024 data.
Kaiser Permanente allocated $10 million to BTC, per its Oct. 7 SEC 13F filing.
Past Fear Cycles
Extreme fear led to rebounds. March 2020's index at 3 preceded a 1,500% rise to $69,000 by Nov. 2021, per CoinGecko.
June 2022's reading of 10 yielded a 100% gain to $30,000 by 2023. Galaxy Digital CEO Mike Novogratz called the current 27 a "buy signal for long-term holders" in an Oct. 9 CNBC interview.
Market Options Data
Deribit data showed $75,000 put/call ratio at 1.2 on Oct. 10, signaling hedging.
Outlook
BlackRock CEO Larry Fink termed Bitcoin "digital gold" in an Oct. 10 earnings call. He eyed $100,000 if inflows continue.
Bitcoin under $80,000 trades amid ETF inflows and on-chain strength.
Frequently Asked Questions
What is the current price of Bitcoin under $80,000?
Bitcoin traded at $75,143, down 0.9% in 24 hours as of Oct. 10, 2024, per CoinGecko.
What does a Fear & Greed Index of 27 mean?
It signals extreme fear on the 0-100 scale, according to Alternative.me.
How much have Bitcoin ETFs accumulated in inflows?
Total inflows reached $18.5 billion since January 2024 launch, per Farside Investors and Bloomberg.
What on-chain metrics support current Bitcoin levels?
Hash rate at 620 EH/s up 5% weekly, active addresses at 850,000 up 12%, per Glassnode.
