Data Analysis
The release
Released by the Bureau of Labor Statistics on 11 August 2021 at 8:30 AM EDT. The Consumer Price Index came in at 0.5% for July 2021, against 0.8% in June 2021. Consumer prices are still rising, but more slowly 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.
Measured by Clometrix
Bitcoin's volatility ratio was 1.23x, against 4.28x for a typical CPI release since 2021. Its volume ratio was 1.38x, against a typical 6.92x. Under 1.5x is not a reaction at all: the market barely noticed this release. 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.
How Bitcoin moved
Bitcoin was at $45,892.99 when the figure came out. Fifteen minutes later it was 0.27% higher, and an hour later 0.99% higher. Its high-to-low range in the hour after was 1.09% of its price, against 0.74% in the hour before.
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 1.23x compares with 3.99x for those, so it moved the price less than its circumstances would suggest.
What it means
Bitcoin registered a quiet reaction to the July 2021 CPI release. Its volatility ratio reached only 1.23x in the quarter hour after the 8:30 AM print, well below the 4.28x median recorded across CPI releases since 2021. Volume rose just 1.38x against the 6.92x typical benchmark, confirming the market barely registered the data.
The release arrived 41 days before the next Federal Reserve decision and therefore outside the two-week window that has historically produced larger moves. CPI prints inside that window have shown a median volatility ratio of 4.75x, compared with 3.99x for releases at other times. Bitcoin's 1.23x reading therefore fell short even of the lower benchmark that applies to its timing.
Price action remained contained. Bitcoin stood at $45,892.99 at release, rose 0.27 percent within fifteen minutes and 0.99 percent within the hour, while its high-low range expanded only to 1.09 percent from 0.74 percent beforehand. The subdued response aligns with Clometrix classification of the event as quiet for this coin.
Traders watching future CPI dates may note that timing relative to policy meetings has coincided with larger volatility ratios in the record, though the pattern supplies no guarantee for any single release.
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
45,551.99Close
45,737.0024h Change
185.01 (0.40%)24h High
46,743.4724h Low
45,341.1424h Volume
53,080 BTCUS Consumer Price Index
Bureau of Labor Statistics
11th August, 2021, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 45862.06 | 45897.59 | 45829.03 | 45892.99 | 0.07% | 0.15% | 49 BTC |
| During | 45892.99 | 46022.22 | 45892.99 | 46021.53 | 0.28% | 0.28% | 74 BTC |
| 5 Minutes | |||||||
| Before | 45881.75 | 45897.59 | 45828.49 | 45892.99 | 0.02% | 0.15% | 138 BTC |
| During | 45892.99 | 46050.00 | 45892.99 | 46037.87 | 0.31% | 0.34% | 221 BTC |
| 10 Minutes | |||||||
| Before | 45959.66 | 45959.67 | 45828.49 | 45892.99 | -0.15% | 0.29% | 254 BTC |
| During | 45892.99 | 46136.35 | 45892.99 | 45989.15 | 0.21% | 0.53% | 418 BTC |
| 15 Minutes | |||||||
| Before | 45930.00 | 45965.43 | 45828.49 | 45892.99 | -0.08% | 0.30% | 358 BTC |
| During | 45892.99 | 46136.35 | 45892.99 | 46017.56 | 0.27% | 0.53% | 603 BTC |
| 30 Minutes | |||||||
| Before | 45922.33 | 45976.03 | 45800.00 | 45892.99 | -0.06% | 0.38% | 926 BTC |
| During | 45892.99 | 46136.35 | 45892.99 | 45980.33 | 0.19% | 0.53% | 1,028 BTC |
| 1 Hour | |||||||
| Before | 46139.91 | 46139.91 | 45800.00 | 45892.99 | -0.54% | 0.74% | 1,964 BTC |
| During | 45892.99 | 46391.00 | 45892.99 | 46349.58 | 0.99% | 1.07% | 2,610 BTC |
| 2 Hours | |||||||
| Before | 46010.56 | 46249.97 | 45800.00 | 45892.99 | -0.26% | 0.97% | 3,735 BTC |
| During | 45892.99 | 46500.00 | 45892.99 | 46371.00 | 1.03% | 1.31% | 5,219 BTC |
| 4 Hours | |||||||
| Before | 46188.87 | 46381.85 | 45800.00 | 45892.99 | -0.64% | 1.25% | 7,175 BTC |
| During | 45892.99 | 46743.47 | 45892.99 | 46386.98 | 1.06% | 1.82% | 13,088 BTC |
| 6 Hours | |||||||
| Before | 45980.50 | 46571.42 | 45800.00 | 45892.99 | -0.19% | 1.66% | 14,124 BTC |
| During | 45892.99 | 46743.47 | 45892.99 | 46313.55 | 0.91% | 1.82% | 16,461 BTC |
| 8 Hours | |||||||
| Before | 45551.99 | 46571.42 | 45341.14 | 46188.87 | 1.38% | 2.64% | 15,723 BTC |
| During | 46188.87 | 46743.47 | 45800.00 | 46386.98 | 0.43% | 2.02% | 20,262 BTC |
| 12 Hours | |||||||
| Before | 45551.99 | 46571.42 | 45341.14 | 45892.99 | 0.74% | 2.64% | 22,897 BTC |
| During | 45892.99 | 46743.47 | 45392.44 | 45737.00 | -0.34% | 2.89% | 30,183 BTC |
