BTC Volatility Analysis for CPI, 13th September 2023

Data Analysis

The release

Released by the Bureau of Labor Statistics on 13 September 2023 at 8:30 AM EDT. The Consumer Price Index came in at 0.5% for August 2023, against 0.2% in July 2023. Consumer prices are rising faster than before.

It arrived at the same moment as Core Consumer Price Index and Core Inflation Rate, so the reaction measured on this page belongs to all of them together.

How Bitcoin moved

Bitcoin was at $26,193.99 when the figure came out. Fifteen minutes later it was 0.28% lower, and an hour later 0.31% lower. Its high-to-low range in the hour after was 0.87% of its price, against 0.42% in the hour before.

Measured by Clometrix

Bitcoin's volatility ratio was 4.29x, against 4.28x for a typical CPI release since 2021. Its volume ratio was 8.55x, against a typical 6.92x. That is about what this release usually does. 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 7 days before the Federal Reserve's 20 September rate decision. Its own ratio of 4.29x compares with 4.75x for those, about what its circumstances would suggest.

Its record

Across 70 CPI releases since 2021, Bitcoin's median volatility ratio is 4.28x.

What it means

Bitcoin showed an ordinary reaction to the August CPI release, with its volatility ratio landing at 4.29x compared with the 4.28x median recorded across 70 CPI prints since 2021. The price stood at $26,193.99 at 8:30 AM EDT, then fell 0.28 percent in the first fifteen minutes and 0.31 percent after an hour. The hour after the print produced a high-to-low range of 0.87 percent against 0.42 percent in the preceding hour. Volume expanded to 8.55x its normal quarter-hour level, above the 6.92x typical for CPI.

Releases in the two weeks before a Fed decision have produced a median volatility ratio of 4.75x since 2021, higher than the 3.99x median at other times. Bitcoin's 4.29x outcome therefore aligned with the timing pattern rather than exceeding it. Traders reviewing the record can note that pre-decision CPI releases have tended to generate larger volatility ratios than those published at other points in the cycle. The current episode stayed within that historical band and did not alter the broader median of 4.28x for the full set of seventy releases.

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

25,893.50

Close

26,187.46

24h Change

293.96 (1.12%)

24h High

26,405.22

24h Low

25,836.96

24h Volume

31,050 BTC

US Consumer Price Index

Bureau of Labor Statistics

13th September, 2023, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time Open High Low Close Change Amplitude Volume
 
1 Minute
Before26175.9826203.2226175.9826193.990.07%0.10%47 BTC
During26193.9926215.9526046.8226071.91-0.47%0.65%531 BTC
 
5 Minutes
Before26171.2626203.2226162.1326193.990.09%0.16%170 BTC
During26193.9926215.9526016.2226091.47-0.39%0.76%1,114 BTC
 
10 Minutes
Before26239.0026244.4526162.1326193.99-0.17%0.31%343 BTC
During26193.9926245.0026016.2226135.77-0.22%0.87%1,667 BTC
 
15 Minutes
Before26215.0026247.0826162.1326193.99-0.08%0.32%520 BTC
During26193.9926245.0026016.2226119.51-0.29%0.87%1,879 BTC
 
30 Minutes
Before26198.4126268.5426158.6226193.99-0.02%0.42%839 BTC
During26193.9926245.0026016.2226212.510.07%0.87%2,481 BTC
 
1 Hour
Before26181.9626268.5426158.6226193.990.05%0.42%1,335 BTC
During26193.9926245.0026016.2226112.94-0.31%0.87%3,253 BTC
 
2 Hours
Before26100.0126268.5426094.5326193.990.36%0.66%2,398 BTC
During26193.9926245.0026016.2226169.98-0.09%0.87%4,801 BTC
 
4 Hours
Before25952.5526268.5425928.5426193.990.92%1.29%5,720 BTC
During26193.9926387.7626016.2226374.190.68%1.41%9,211 BTC
 
6 Hours
Before25918.8026268.5425855.1726193.991.05%1.57%8,776 BTC
During26193.9926405.2226016.2226130.33-0.24%1.47%13,779 BTC
 
8 Hours
Before25893.5026109.9425836.9625952.540.23%1.05%7,919 BTC
During25952.5526387.7625928.5426374.191.60%1.74%14,931 BTC
 
12 Hours
Before25893.5026268.5425836.9626193.991.15%1.64%13,638 BTC
During26193.9926405.2226016.2226187.46-0.02%1.47%17,411 BTC

Your trading edge begins today.

Get Started Now