Data Analysis
The release
Released by the Bureau of Labor Statistics on 10 December 2020 at 8:30 AM EST. The Consumer Price Index came in at 0.2% for November 2020, against 0.1% in October 2020. Consumer prices are rising faster than before.
It arrived at the same moment as Core Consumer Price Index, Core Inflation Rate, Initial Jobless Claims and Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.
How Bitcoin moved
Bitcoin was at $18,131.25 when the figure came out. Fifteen minutes later it was 0.36% lower, and an hour later 0.34% lower. Its high-to-low range in the hour after was 1.14% of its price, against 1.05% in the hour before.
Measured by Clometrix
Bitcoin's volatility ratio was 1.66x, against 4.28x for a typical CPI release since 2021. Its volume ratio was 1.83x, against a typical 6.92x. That is a muted reaction by this release's own standard. Both compare the quarter hour of the release with an ordinary quarter hour that same day, where 1.00x is no change: volatility is how far the price ranged, volume how much traded.
What made it matter
Since 2021, CPI releases in the two weeks before a Fed decision have moved Bitcoin more than those at other times: a median volatility ratio of 4.75x across 28, against 3.99x across 42. This one came out 6 days before the Federal Reserve's 16 December rate decision. Its own ratio of 1.66x compares with 4.75x for those, so it moved the price less than its circumstances would suggest.
Its record
Across 70 CPI releases since 2021, Bitcoin's median volatility ratio is 4.28x.
About Consumer Price Index
The Consumer Price Index (CPI) measures the monthly change in prices paid by U.S. consumers. The Bureau of Labor Statistics (BLS) calculates the CPI as a weighted average of prices for a basket of goods and services representative of aggregate U.S. consumer spending. The CPI is one of the most popular measures of inflation and deflation. The index is published monthly by the U.S. Bureau of Labor Statistics (BLS).
Disclaimer
The data analysis, forecasted results and projections provided herein are based on historical price action and market trends. While every effort has been made to ensure the accuracy of the information, these predictions are speculative and should not be considered a guarantee of future performance. Market conditions can change rapidly, and past performance is not indicative of future results. Trading and investing involve significant risk, and you should conduct your own research and consult with a licensed financial advisor before making any investment decisions. We do not assume any liability for any losses that may result from reliance on this information.
BTC-USDT
Bitcoin
Open
18,449.43Close
17,911.7924h Change
-537.64 (-3.00%)24h High
18,500.0024h Low
17,854.7724h Volume
56,377 BTCUS Consumer Price Index
Bureau of Labor Statistics
10th December, 2020, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 18167.42 | 18167.43 | 18120.01 | 18131.56 | -0.20% | 0.26% | 92 BTC |
| During | 18131.25 | 18131.25 | 18112.33 | 18120.46 | -0.06% | 0.10% | 46 BTC |
| 5 Minutes | |||||||
| Before | 18150.35 | 18182.97 | 18120.01 | 18131.56 | -0.10% | 0.35% | 305 BTC |
| During | 18131.25 | 18168.24 | 18112.33 | 18149.97 | 0.10% | 0.31% | 347 BTC |
| 10 Minutes | |||||||
| Before | 18170.36 | 18182.97 | 18120.01 | 18131.56 | -0.21% | 0.35% | 447 BTC |
| During | 18131.25 | 18168.24 | 18075.31 | 18095.09 | -0.20% | 0.51% | 582 BTC |
| 15 Minutes | |||||||
| Before | 18137.02 | 18182.97 | 18120.01 | 18131.56 | -0.03% | 0.35% | 698 BTC |
| During | 18131.25 | 18168.24 | 18055.46 | 18066.37 | -0.36% | 0.62% | 888 BTC |
| 30 Minutes | |||||||
| Before | 18209.72 | 18209.72 | 18070.86 | 18131.56 | -0.43% | 0.76% | 1,616 BTC |
| During | 18131.25 | 18246.80 | 18045.31 | 18233.65 | 0.56% | 1.10% | 2,086 BTC |
| 1 Hour | |||||||
| Before | 18244.20 | 18260.89 | 18070.86 | 18131.56 | -0.62% | 1.04% | 2,420 BTC |
| During | 18131.25 | 18252.55 | 18045.31 | 18069.53 | -0.34% | 1.14% | 3,911 BTC |
| 2 Hours | |||||||
| Before | 18147.00 | 18290.63 | 18070.86 | 18131.56 | -0.09% | 1.20% | 4,444 BTC |
| During | 18131.25 | 18252.55 | 17911.12 | 18022.29 | -0.60% | 1.87% | 8,148 BTC |
| 4 Hours | |||||||
| Before | 18440.00 | 18480.00 | 18070.00 | 18131.56 | -1.70% | 2.22% | 11,305 BTC |
| During | 18131.25 | 18252.55 | 17911.12 | 18100.99 | -0.17% | 1.87% | 13,622 BTC |
| 6 Hours | |||||||
| Before | 18349.75 | 18480.00 | 18070.00 | 18131.56 | -1.20% | 2.22% | 14,485 BTC |
| During | 18131.25 | 18321.09 | 17911.12 | 18287.86 | 0.86% | 2.24% | 18,004 BTC |
| 8 Hours | |||||||
| Before | 18449.43 | 18500.00 | 18278.44 | 18440.00 | -0.05% | 1.20% | 13,099 BTC |
| During | 18440.00 | 18480.00 | 17911.12 | 18100.99 | -1.87% | 3.08% | 24,927 BTC |
| 12 Hours | |||||||
| Before | 18449.43 | 18500.00 | 18070.00 | 18131.56 | -1.75% | 2.32% | 24,404 BTC |
| During | 18131.25 | 18435.74 | 17854.77 | 17911.79 | -1.23% | 3.15% | 31,973 BTC |
