Data Analysis
The release
Released by the Bureau of Labor Statistics on 13 April 2021 at 8:30 AM EDT. The Consumer Price Index came in at 0.5% for March 2021, against 0.3% in February 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.
Measured by Clometrix
Bitcoin's volatility ratio was 0.69x, against 4.28x for a typical CPI release since 2021. Its volume ratio was 1.48x, 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 $63,036.56 when the figure came out. Fifteen minutes later it was 0.21% lower, and an hour later 0.71% lower. Its high-to-low range in the hour after was 0.81% of its price, against 1% 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 0.69x compares with 3.99x for those, so it moved the price less than its circumstances would suggest.
What it means
Bitcoin showed almost no reaction to the March 2021 CPI print. Its volatility ratio reached just 0.69x in the quarter hour after the release, well below the 4.28x median recorded across CPI events since 2021. Volume rose only 1.48x against a typical 6.92x, confirming the market barely registered the data. Price moved from $63,036.56 to a 0.21 percent decline within fifteen minutes and 0.71 percent lower after one hour, with the hourly range narrowing to 0.81 percent from 1 percent beforehand.
The release arrived fourteen days before the Federal Reserve's April 28 decision, placing it outside the two-week window in which CPI has historically produced larger Bitcoin moves. Releases inside that window carried a median volatility ratio of 4.75x across twenty-eight observations, compared with 3.99x for the forty-two events farther from policy meetings. This print therefore delivered less movement than its timing alone would have suggested. The record supplies no basis for expecting any particular magnitude from the next release on the basis of this one.
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
60,315.36Close
63,317.9424h Change
3002.58 (4.74%)24h High
63,869.9924h Low
60,201.2224h Volume
82,901 BTCUS Consumer Price Index
Bureau of Labor Statistics
13th April, 2021, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 63027.05 | 63036.57 | 62978.96 | 63036.56 | 0.02% | 0.09% | 86 BTC |
| During | 63036.56 | 63039.00 | 63001.12 | 63017.63 | -0.03% | 0.06% | 52 BTC |
| 5 Minutes | |||||||
| Before | 62938.63 | 63036.57 | 62924.16 | 63036.56 | 0.16% | 0.18% | 316 BTC |
| During | 63036.56 | 63066.00 | 62913.18 | 62913.37 | -0.20% | 0.24% | 340 BTC |
| 10 Minutes | |||||||
| Before | 63013.14 | 63091.95 | 62880.00 | 63036.56 | 0.04% | 0.34% | 780 BTC |
| During | 63036.56 | 63066.00 | 62900.00 | 63030.00 | -0.01% | 0.26% | 633 BTC |
| 15 Minutes | |||||||
| Before | 63083.97 | 63260.00 | 62880.00 | 63036.56 | -0.08% | 0.60% | 1,299 BTC |
| During | 63036.56 | 63068.00 | 62900.00 | 62905.15 | -0.21% | 0.27% | 977 BTC |
| 30 Minutes | |||||||
| Before | 62942.21 | 63260.00 | 62790.85 | 63036.56 | 0.15% | 0.74% | 2,166 BTC |
| During | 63036.56 | 63068.00 | 62813.05 | 62973.25 | -0.10% | 0.40% | 1,960 BTC |
| 1 Hour | |||||||
| Before | 62630.76 | 63260.00 | 62630.76 | 63036.56 | 0.64% | 0.99% | 4,320 BTC |
| During | 63036.56 | 63068.00 | 62559.95 | 62587.16 | -0.72% | 0.81% | 4,410 BTC |
| 2 Hours | |||||||
| Before | 62718.12 | 63260.00 | 62458.00 | 63036.56 | 0.51% | 1.27% | 7,789 BTC |
| During | 63036.56 | 63068.00 | 62500.00 | 62865.50 | -0.27% | 0.90% | 7,339 BTC |
| 4 Hours | |||||||
| Before | 62560.81 | 63287.88 | 62235.40 | 63036.56 | 0.75% | 1.66% | 20,636 BTC |
| During | 63036.56 | 63777.77 | 62500.00 | 63267.19 | 0.36% | 2.00% | 15,302 BTC |
| 6 Hours | |||||||
| Before | 61356.57 | 63287.88 | 60450.25 | 63036.56 | 2.67% | 4.48% | 33,022 BTC |
| During | 63036.56 | 63777.77 | 62500.00 | 63403.71 | 0.58% | 2.00% | 20,395 BTC |
| 8 Hours | |||||||
| Before | 60315.36 | 62723.00 | 60201.22 | 62560.82 | 3.59% | 4.02% | 29,591 BTC |
| During | 62560.81 | 63777.77 | 62235.40 | 63267.19 | 1.12% | 2.42% | 35,938 BTC |
| 12 Hours | |||||||
| Before | 60315.36 | 63287.88 | 60201.22 | 63036.56 | 4.32% | 4.88% | 50,227 BTC |
| During | 63036.56 | 63869.99 | 62500.00 | 63317.94 | 0.44% | 2.14% | 32,673 BTC |
