The current Crypto Fear and Greed Index points to 'extreme fear' as the price of Bitcoin drops 39% from its all-time high.

The value of cryptocurrencies dropped by billions of dollars in the previous week, and the leading cryptocurrency Bitcoin (BTC) lost about 10% of its value. The price dropped as low as $39,796 today, touching its lowest point since late September 2021.

On Saturday, Bitcoin's worldwide trade volume was $23.6 billion. Tether (USDT) became the most popular trading pair for BTC, accounting for 61.46% of today's deals. FTX.US became the most popular Bitcoin exchange on Saturday, followed by Coinbase, Bitfinex, Kraken, and Bitstamp. The worldwide trading volume of BTC accounts for only 23.69% of the $99.6 billion transactions in all crypto assets. Bitcoin (BTC) has a global trade volume of $23.6 billion, while tether (USDT) has a global trade volume of $46.7 billion.

The Crypto Fear and Greed Index points to extreme fear with a score of 23 today. While the index pointed to 'fear' with 29 points last week, it showed 'extreme fear' with 16 points last month.

Significant integration to bring smart contracts to the Bitcoin blockchain

The first phase of the important integration that will bring smart contracts to the Bitcoin blockchain is now complete. It looks like the BTC network will have a new and important feature soon.

With the integration that has just started, smart contracts will be brought to the Bitcoin blockchain. This is a three step process. Internet Computer (ICP) is working on direct integration into the Bitcoin blockchain.

The DFINITY Foundation (@dfinity) tweeted the following on Twitter:

"BTC and ICP direct integration. DFINITY Foundation cryptographers and engineers are working around the clock and phase one is complete. So smart contracts will be realized in BTC.

Stage 1: ECDSA signatures (Done – see demo)
Phase 2: BTC<>ICP testnet (Under Construction)
Phase 3: BTC<>ICP full integration” (Under Construction)"