Data Analysis
The release
Released by the Bureau of Labor Statistics on 13 July 2021 at 8:30 AM EDT. The Consumer Price Index came in at 0.8% for June 2021, against 0.7% in May 2021. 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 $32,879.01 when the figure came out. Fifteen minutes later it was 1.14% lower, and an hour later 1.01% lower. Its high-to-low range in the hour after was 1.82% of its price, against 1.13% in the hour before.
Measured by Clometrix
Bitcoin's volatility ratio was 4.36x, against 4.28x for a typical CPI release since 2021. Its volume ratio was 9.95x, 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 was not within two weeks of a Fed decision. Its own ratio of 4.36x compares with 3.99x 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 posted a volatility ratio of 4.36x in the quarter hour after the June CPI release. That figure sat within a few points of the 4.28x median recorded across 70 CPI prints since 2021 and received an ordinary classification. The price fell 1.14 percent in the first fifteen minutes and produced a one-hour high-low range of 1.82 percent, compared with 1.13 percent in the hour before the data.
Its volatility ratio tracked the 3.99x median observed for CPI prints at similar distances from policy meetings, confirming that the timing accounted for the measured response. Volume expanded to 9.95x its baseline level, above the 6.92x typical for the event. Traders reviewing the record may observe that CPI releases away from imminent Federal Reserve decisions have produced smaller median volatility ratios than those inside the two-week window before a Federal Reserve decision.
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
32,981.38Close
32,621.0624h Change
-360.32 (-1.10%)24h High
33,340.0024h Low
32,202.2524h Volume
40,898 BTCUS Consumer Price Index
Bureau of Labor Statistics
13th July, 2021, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 32864.32 | 32885.00 | 32858.00 | 32879.00 | 0.04% | 0.08% | 19 BTC |
| During | 32879.01 | 32879.02 | 32770.00 | 32798.73 | -0.24% | 0.33% | 142 BTC |
| 5 Minutes | |||||||
| Before | 32918.60 | 32930.00 | 32822.74 | 32879.00 | -0.12% | 0.33% | 353 BTC |
| During | 32879.01 | 32879.02 | 32683.00 | 32721.00 | -0.48% | 0.60% | 1,037 BTC |
| 10 Minutes | |||||||
| Before | 32916.00 | 32950.96 | 32822.74 | 32879.00 | -0.11% | 0.39% | 512 BTC |
| During | 32879.01 | 32879.02 | 32445.00 | 32552.01 | -1.00% | 1.32% | 2,529 BTC |
| 15 Minutes | |||||||
| Before | 32966.01 | 32966.01 | 32822.74 | 32879.00 | -0.26% | 0.43% | 740 BTC |
| During | 32879.01 | 32879.02 | 32380.20 | 32505.64 | -1.15% | 1.52% | 3,226 BTC |
| 30 Minutes | |||||||
| Before | 33042.61 | 33049.00 | 32822.74 | 32879.00 | -0.50% | 0.68% | 1,228 BTC |
| During | 32879.01 | 32879.02 | 32280.00 | 32352.61 | -1.63% | 1.82% | 4,567 BTC |
| 1 Hour | |||||||
| Before | 33017.97 | 33193.75 | 32822.74 | 32879.00 | -0.42% | 1.12% | 1,943 BTC |
| During | 32879.01 | 32879.02 | 32280.00 | 32546.66 | -1.02% | 1.82% | 6,203 BTC |
| 2 Hours | |||||||
| Before | 33230.00 | 33254.99 | 32822.74 | 32879.00 | -1.07% | 1.30% | 3,519 BTC |
| During | 32879.01 | 32879.02 | 32280.00 | 32503.45 | -1.16% | 1.82% | 8,382 BTC |
| 4 Hours | |||||||
| Before | 33162.01 | 33340.00 | 32822.74 | 32879.00 | -0.86% | 1.55% | 6,304 BTC |
| During | 32879.01 | 32887.90 | 32280.00 | 32775.89 | -0.31% | 1.85% | 11,973 BTC |
| 6 Hours | |||||||
| Before | 32940.34 | 33340.00 | 32822.74 | 32879.00 | -0.19% | 1.55% | 10,029 BTC |
| During | 32879.01 | 32956.26 | 32280.00 | 32660.99 | -0.67% | 2.05% | 14,365 BTC |
| 8 Hours | |||||||
| Before | 32981.38 | 33333.33 | 32742.01 | 33162.00 | 0.54% | 1.77% | 11,119 BTC |
| During | 33162.01 | 33340.00 | 32280.00 | 32775.89 | -1.18% | 3.18% | 18,277 BTC |
| 12 Hours | |||||||
| Before | 32981.38 | 33340.00 | 32742.01 | 32879.00 | -0.31% | 1.79% | 17,423 BTC |
| During | 32879.01 | 32956.26 | 32202.25 | 32621.06 | -0.79% | 2.29% | 23,475 BTC |
