Data Analysis
The release
Released by the Bureau of Labor Statistics on 12 November 2020 at 8:30 AM EST. The Consumer Price Index came in at 0.1% for October 2020, against 0.3% in September 2020. Consumer prices are still rising, but more slowly 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.
Measured by Clometrix
Bitcoin's volatility ratio was 0.87x, against 4.28x for a typical CPI release since 2021. Its volume ratio was 0.88x, 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 $15,933.89 when the figure came out. Fifteen minutes later it was 0.07% lower, and an hour later 0.18% higher. Its high-to-low range in the hour after was 1.42% of its price, against 0.72% 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 0.87x compares with 3.99x for those, so it moved the price less than its circumstances would suggest.
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
15,636.08Close
16,383.1124h Change
747.03 (4.56%)24h High
16,463.0024h Low
15,591.4024h Volume
102,412 BTCUS Consumer Price Index
Bureau of Labor Statistics
12th November, 2020, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 15921.81 | 15934.49 | 15918.00 | 15933.89 | 0.08% | 0.10% | 62 BTC |
| During | 15933.89 | 15935.00 | 15915.76 | 15923.95 | -0.06% | 0.12% | 52 BTC |
| 5 Minutes | |||||||
| Before | 15919.27 | 15934.49 | 15910.22 | 15933.89 | 0.09% | 0.15% | 300 BTC |
| During | 15933.89 | 15935.00 | 15909.00 | 15928.65 | -0.03% | 0.16% | 239 BTC |
| 10 Minutes | |||||||
| Before | 15857.53 | 15934.49 | 15841.67 | 15933.89 | 0.48% | 0.58% | 616 BTC |
| During | 15933.89 | 15935.00 | 15870.00 | 15898.71 | -0.22% | 0.41% | 578 BTC |
| 15 Minutes | |||||||
| Before | 15862.27 | 15934.49 | 15820.77 | 15933.89 | 0.45% | 0.71% | 856 BTC |
| During | 15933.89 | 15935.00 | 15870.00 | 15923.25 | -0.07% | 0.41% | 782 BTC |
| 30 Minutes | |||||||
| Before | 15885.46 | 15934.49 | 15820.77 | 15933.89 | 0.30% | 0.71% | 1,664 BTC |
| During | 15933.89 | 16036.72 | 15870.00 | 15996.02 | 0.39% | 1.04% | 2,388 BTC |
| 1 Hour | |||||||
| Before | 15875.65 | 15935.01 | 15820.77 | 15933.89 | 0.37% | 0.72% | 3,550 BTC |
| During | 15933.89 | 16096.96 | 15870.00 | 15962.41 | 0.18% | 1.41% | 5,841 BTC |
| 2 Hours | |||||||
| Before | 15779.51 | 15935.01 | 15710.00 | 15933.89 | 0.97% | 1.41% | 7,282 BTC |
| During | 15933.89 | 16096.96 | 15828.60 | 16039.78 | 0.66% | 1.67% | 12,008 BTC |
| 4 Hours | |||||||
| Before | 15864.33 | 16160.89 | 15600.00 | 15933.89 | 0.44% | 3.47% | 28,007 BTC |
| During | 15933.89 | 16199.00 | 15828.60 | 16114.66 | 1.12% | 2.29% | 23,723 BTC |
| 6 Hours | |||||||
| Before | 15844.42 | 16160.89 | 15600.00 | 15933.89 | 0.56% | 3.47% | 34,938 BTC |
| During | 15933.89 | 16199.00 | 15828.60 | 16051.26 | 0.73% | 2.29% | 31,517 BTC |
| 8 Hours | |||||||
| Before | 15636.08 | 15945.00 | 15591.40 | 15864.33 | 1.44% | 2.22% | 19,710 BTC |
| During | 15864.33 | 16199.00 | 15600.00 | 16114.66 | 1.55% | 3.70% | 51,730 BTC |
| 12 Hours | |||||||
| Before | 15636.08 | 16160.89 | 15591.40 | 15933.89 | 1.87% | 3.52% | 47,717 BTC |
| During | 15933.89 | 16463.00 | 15828.60 | 16383.11 | 2.74% | 3.85% | 54,696 BTC |
