BTC Volatility Analysis for CPI, 10th February 2021

Data Analysis

The release

Released by the Bureau of Labor Statistics on 10 February 2021 at 8:30 AM EST. The Consumer Price Index came in at 0.2% for January 2021, against 0.4% in December 2020. 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 1.26x, against 4.28x for a typical CPI release since 2021. Its volume ratio was 1.26x, 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 $45,475.74 when the figure came out. Fifteen minutes later it was 0.62% higher, and an hour later 0.23% lower. Its high-to-low range in the hour after was 1.74% of its price, against 3.74% 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 1.26x 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 January 2021 CPI release. Volatility reached only 1.26x normal levels in the quarter hour after the print, far below the 4.28x median recorded across CPI events since 2021. Volume matched that subdued reading at 1.26x against a typical 6.92x. The market barely registered the data as a market-moving event.

The release fell outside the two-week window ahead of a Federal Reserve decision. CPI prints inside that window have produced a median volatility ratio of 4.75x, compared with 3.99x at other times. Bitcoin's 1.26x outcome sat well below even the lower of those benchmarks.

Price movement stayed contained. Bitcoin stood at $45,475.74 at the moment of release, rose 0.62 percent within fifteen minutes, and closed the hour 0.23 percent lower. Its high-to-low range in that hour measured 1.74 percent of spot, narrower than the 3.74 percent range seen in the preceding hour.

Traders reviewing future CPI releases may therefore focus first on proximity to scheduled policy meetings, since that timing has shown a clearer link to Bitcoin volatility than the headline surprise itself.

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

46,182.45

Close

44,404.29

24h Change

-1778.16 (-4.00%)

24h High

47,310.00

24h Low

43,727.00

24h Volume

97,847 BTC

US Consumer Price Index

Bureau of Labor Statistics

10th February, 2021, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time Open High Low Close Change Amplitude Volume
 
1 Minute
Before45512.6945517.2545325.0045475.75-0.08%0.42%156 BTC
During45475.7445491.3445389.4645483.580.02%0.22%75 BTC
 
5 Minutes
Before45619.9245703.7445325.0045475.75-0.32%0.83%433 BTC
During45475.7445721.1545389.4645592.850.26%0.73%381 BTC
 
10 Minutes
Before45536.9045763.6045325.0045475.75-0.13%0.96%787 BTC
During45475.7445774.5945389.4645749.970.60%0.84%702 BTC
 
15 Minutes
Before45800.0045800.0145325.0045475.75-0.71%1.04%1,266 BTC
During45475.7445826.0145389.4645759.440.62%0.95%1,049 BTC
 
30 Minutes
Before45655.1345969.2845314.3245475.75-0.39%1.42%3,432 BTC
During45475.7445876.0045389.4645626.320.33%1.06%1,769 BTC
 
1 Hour
Before46136.6146200.0044500.0045475.75-1.45%3.68%10,499 BTC
During45475.7445988.2045195.0045372.02-0.23%1.72%4,262 BTC
 
2 Hours
Before46481.3946593.3444500.0045475.75-2.21%4.49%13,962 BTC
During45475.7445988.2044337.1744450.00-2.31%3.59%12,048 BTC
 
4 Hours
Before46823.5347310.0044500.0045475.75-2.96%5.94%21,888 BTC
During45475.7445988.2043727.0044790.82-1.53%4.92%24,686 BTC
 
6 Hours
Before46565.0747310.0044500.0045475.75-2.40%5.94%28,888 BTC
During45475.7445988.2043727.0044683.73-1.77%4.92%32,173 BTC
 
8 Hours
Before46182.4546944.0745589.9846823.531.37%2.88%26,641 BTC
During46823.5347310.0043727.0044790.82-4.54%7.57%46,574 BTC
 
12 Hours
Before46182.4547310.0044500.0045475.75-1.55%5.94%48,529 BTC
During45475.7445988.2043727.0044404.29-2.41%4.92%49,318 BTC

Your trading edge begins today.

Get Started Now