Data Analysis
The release
Released by the Bureau of Labor Statistics on 13 January 2021 at 8:30 AM EST. The Consumer Price Index came in at 0.4% for December 2020, against 0.2% in November 2020. 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 0.74x, 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 $34,531.36 when the figure came out. Fifteen minutes later it was 0.28% higher, and an hour later 1.02% higher. Its high-to-low range in the hour after was 2.07% of its price, against 1.88% 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 came out 14 days before the Federal Reserve's 27 January rate decision. Its own ratio of 0.69x compares with 4.75x for those, so it moved the price less than its circumstances would suggest.
What it means
Subdued price action despite pre-Fed timing
Bitcoin registered a quiet reaction to the December 2020 CPI release. Volatility reached just 0.69 times the level seen in an ordinary quarter hour that day, far below the 4.28 times median recorded for CPI prints since 2021. Volume remained similarly restrained at 0.74 times normal.
The release coincided with core CPI figures and landed 14 days ahead of the Federal Reserve's January policy decision. Releases in that window have typically produced a 4.75 times median volatility ratio for Bitcoin. This instance fell well short of that benchmark, indicating that timing alone did not generate elevated movement.
Bitcoin stood at $34,531.36 at the moment of release. It advanced 0.28 percent within fifteen minutes and 1.02 percent after one hour. The high-to-low range over the following hour measured 2.07 percent of spot, only modestly wider than the 1.88 percent range observed beforehand.
Traders observing future CPI prints may note that even releases arriving close to Federal Reserve meetings can produce limited immediate volatility when the market assigns them lower weight. The record shows coincidence with price ranges rather than consistent causation.
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
32,600.04Close
37,761.2424h Change
5161.20 (13.67%)24h High
38,172.2224h Low
32,553.5824h Volume
119,585 BTCUS Consumer Price Index
Bureau of Labor Statistics
13th January, 2021, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 34568.88 | 34572.81 | 34531.35 | 34532.96 | -0.10% | 0.12% | 37 BTC |
| During | 34531.36 | 34589.72 | 34531.36 | 34581.69 | 0.15% | 0.17% | 28 BTC |
| 5 Minutes | |||||||
| Before | 34651.72 | 34718.95 | 34531.35 | 34532.96 | -0.34% | 0.54% | 513 BTC |
| During | 34531.36 | 34769.99 | 34531.36 | 34742.34 | 0.61% | 0.69% | 254 BTC |
| 10 Minutes | |||||||
| Before | 34527.71 | 34718.95 | 34500.00 | 34532.96 | 0.02% | 0.63% | 831 BTC |
| During | 34531.36 | 34785.71 | 34531.36 | 34664.73 | 0.38% | 0.73% | 529 BTC |
| 15 Minutes | |||||||
| Before | 34491.32 | 34718.95 | 34411.88 | 34532.96 | 0.12% | 0.88% | 1,129 BTC |
| During | 34531.36 | 34787.24 | 34531.36 | 34628.85 | 0.28% | 0.74% | 773 BTC |
| 30 Minutes | |||||||
| Before | 34266.52 | 34718.95 | 34070.00 | 34532.96 | 0.77% | 1.87% | 2,129 BTC |
| During | 34531.36 | 34787.24 | 34397.25 | 34575.50 | 0.13% | 1.12% | 1,535 BTC |
| 1 Hour | |||||||
| Before | 34166.44 | 34718.95 | 34070.00 | 34532.96 | 1.06% | 1.87% | 3,251 BTC |
| During | 34531.36 | 35100.00 | 34385.27 | 34885.16 | 1.01% | 2.04% | 4,430 BTC |
| 2 Hours | |||||||
| Before | 34869.76 | 35250.00 | 34017.00 | 34532.96 | -0.98% | 3.50% | 9,852 BTC |
| During | 34531.36 | 35100.00 | 34200.00 | 34633.03 | 0.29% | 2.56% | 8,728 BTC |
| 4 Hours | |||||||
| Before | 34717.98 | 35250.00 | 34017.00 | 34532.96 | -0.54% | 3.50% | 18,492 BTC |
| During | 34531.36 | 35100.00 | 34200.00 | 34881.34 | 1.00% | 2.56% | 14,704 BTC |
| 6 Hours | |||||||
| Before | 34613.73 | 35250.00 | 34017.00 | 34532.96 | -0.23% | 3.50% | 30,364 BTC |
| During | 34531.36 | 35970.00 | 34200.00 | 35805.51 | 3.56% | 4.92% | 25,051 BTC |
| 8 Hours | |||||||
| Before | 32600.04 | 35180.67 | 32553.58 | 34722.31 | 6.11% | 7.47% | 42,042 BTC |
| During | 34717.98 | 35250.00 | 34017.00 | 34881.34 | 0.47% | 3.50% | 33,196 BTC |
| 12 Hours | |||||||
| Before | 32600.04 | 35250.00 | 32553.58 | 34532.96 | 5.60% | 7.65% | 60,534 BTC |
| During | 34531.36 | 38172.22 | 34200.00 | 37761.24 | 8.55% | 10.41% | 59,050 BTC |
