Data Analysis
The release
Released by the Bureau of Labor Statistics on 11 December 2024 at 8:30 AM EST. The Consumer Price Index came in at 0.3% for November 2024, against 0.3% in October 2024. Consumer prices are rising at the same pace as 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.
How Bitcoin moved
Bitcoin was at $98,375.99 when the figure came out. Fifteen minutes later it was 0.26% higher, and an hour later 0.3% higher. Its high-to-low range in the hour after was 0.71% of its price, against 0.43% in the hour before.
Measured by Clometrix
Bitcoin's volatility ratio was 2.23x, against 4.28x for a typical CPI release since 2021. Its volume ratio was 4.40x, against a typical 6.92x. That is a muted reaction by this release's own standard. 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.
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 7 days before the Federal Reserve's 18 December rate decision. Its own ratio of 2.23x compares with 4.75x for those, so it moved the price less than its circumstances would suggest.
Its record
Across 70 CPI releases since 2021, Bitcoin's median volatility ratio is 4.28x.
What it means
Bitcoin posted a volatility ratio of 2.23x in the quarter hour after the November CPI release. That figure sits below the 4.28x median observed across 70 CPI prints since 2021 and well short of the 4.75x median recorded for releases that fell inside the two weeks before a Federal Reserve decision. Volume rose 4.40x against the 6.92x typical level for the event. The price advanced 0.26 percent in the first fifteen minutes and 0.3 percent after one hour, while the high-to-low range reached 0.71 percent of the $98,375.99 opening level.
The release landed seven days before the 18 December policy meeting. Its own volatility ratio therefore compares unfavorably with the elevated median that has accompanied pre-decision CPI prints. Traders reviewing the record may observe that a CPI release matching its predecessor can produce limited follow-through even when positioned close to a rate decision. The measured reaction supplies no indication that subsequent prints in similar timing will follow the same pattern.
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
95,904.30Close
100,786.0024h Change
4881.70 (4.84%)24h High
101,888.0024h Low
95,658.2424h Volume
36,644 BTCUS Consumer Price Index
Bureau of Labor Statistics
11th December, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 98299.39 | 98376.00 | 98299.38 | 98375.99 | 0.08% | 0.08% | 12 BTC |
| During | 98375.99 | 98799.99 | 98375.99 | 98715.73 | 0.34% | 0.43% | 393 BTC |
| 5 Minutes | |||||||
| Before | 98366.96 | 98376.00 | 98284.71 | 98375.99 | 0.01% | 0.09% | 35 BTC |
| During | 98375.99 | 98865.47 | 98375.99 | 98783.99 | 0.41% | 0.50% | 691 BTC |
| 10 Minutes | |||||||
| Before | 98192.19 | 98397.25 | 98145.37 | 98375.99 | 0.19% | 0.26% | 93 BTC |
| During | 98375.99 | 98865.47 | 98375.99 | 98537.79 | 0.16% | 0.50% | 908 BTC |
| 15 Minutes | |||||||
| Before | 98212.56 | 98397.25 | 98072.33 | 98375.99 | 0.17% | 0.33% | 175 BTC |
| During | 98375.99 | 98865.47 | 98168.20 | 98634.25 | 0.26% | 0.71% | 1,159 BTC |
| 30 Minutes | |||||||
| Before | 98236.00 | 98397.25 | 98072.33 | 98375.99 | 0.14% | 0.33% | 360 BTC |
| During | 98375.99 | 98865.47 | 98168.20 | 98736.86 | 0.37% | 0.71% | 1,516 BTC |
| 1 Hour | |||||||
| Before | 98348.92 | 98493.04 | 98072.33 | 98375.99 | 0.03% | 0.43% | 776 BTC |
| During | 98375.99 | 98865.47 | 98168.20 | 98668.49 | 0.30% | 0.71% | 2,129 BTC |
| 2 Hours | |||||||
| Before | 98450.00 | 98493.04 | 98072.33 | 98375.99 | -0.08% | 0.43% | 1,535 BTC |
| During | 98375.99 | 100800.00 | 98168.20 | 100486.09 | 2.10% | 2.61% | 7,620 BTC |
| 4 Hours | |||||||
| Before | 97830.90 | 98493.04 | 97757.44 | 98375.99 | 0.55% | 0.75% | 3,054 BTC |
| During | 98375.99 | 101090.90 | 98168.20 | 100507.09 | 2.12% | 2.89% | 13,303 BTC |
| 6 Hours | |||||||
| Before | 97588.85 | 98493.04 | 97248.87 | 98375.99 | 0.80% | 1.26% | 5,420 BTC |
| During | 98375.99 | 101090.90 | 98168.20 | 100773.24 | 2.38% | 2.89% | 17,728 BTC |
| 8 Hours | |||||||
| Before | 95904.30 | 98472.57 | 95658.24 | 97830.90 | 1.97% | 2.86% | 8,317 BTC |
| During | 97830.90 | 101090.90 | 97757.44 | 100507.09 | 2.66% | 3.30% | 16,357 BTC |
| 12 Hours | |||||||
| Before | 95904.30 | 98493.04 | 95658.24 | 98375.99 | 2.51% | 2.88% | 11,371 BTC |
| During | 98375.99 | 101888.00 | 98168.20 | 100786.00 | 2.39% | 3.65% | 25,273 BTC |
