BTC Volatility Analysis for CPI, 13th November 2024

Data Analysis

The release

Released by the Bureau of Labor Statistics on 13 November 2024 at 8:30 AM EST. The Consumer Price Index came in at 0.3% for October 2024, against 0.2% in September 2024. 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.

How Bitcoin moved

Bitcoin was at $88,259.18 when the figure came out. Fifteen minutes later it was 0.94% higher, and an hour later 1.73% higher. Its high-to-low range in the hour after was 1.94% of its price, against 0.91% in the hour before.

Measured by Clometrix

Bitcoin's volatility ratio was 1.86x, against 4.28x for a typical CPI release since 2021. Its volume ratio was 2.80x, 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 was not within two weeks of a Fed decision. Its own ratio of 1.86x compares with 3.99x 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 advanced 1.73 percent in the hour after the October CPI print, with its hourly range widening only to 1.94 percent from 0.91 percent beforehand. The measured volatility ratio of 1.86x and volume ratio of 2.80x both fell well below the medians recorded across CPI releases since 2021. Clometrix therefore classifies the move as muted relative to the event's established record.

The release arrived 34 days ahead of the next Federal Reserve decision. Releases inside the two-week window before policy meetings have produced a median volatility ratio of 4.75x, while those outside it have produced 3.99x. Across seventy CPI releases the median volatility ratio for Bitcoin stands at 4.28x. A trader reviewing the next CPI can note that even a release outside the immediate pre-Fed window has occasionally generated larger moves, yet the most recent instance remained subdued on both volatility and volume metrics.

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

87,959.99

Close

89,700.00

24h Change

1740.01 (1.94%)

24h High

93,265.64

24h Low

86,127.99

24h Volume

86,041 BTC

US Consumer Price Index

Bureau of Labor Statistics

13th November, 2024, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time Open High Low Close Change Amplitude Volume
 
1 Minute
Before88330.0288349.0088177.0088259.17-0.08%0.19%130 BTC
During88259.1888800.0088167.3688680.000.47%0.71%438 BTC
 
5 Minutes
Before88073.5688349.0088073.5688259.170.21%0.31%431 BTC
During88259.1888800.0088167.3688528.240.30%0.71%863 BTC
 
10 Minutes
Before87787.4588349.0087770.8588259.170.53%0.65%721 BTC
During88259.1888800.0088167.3688645.740.44%0.71%1,097 BTC
 
15 Minutes
Before87652.4788349.0087652.4688259.170.69%0.79%848 BTC
During88259.1889140.0088167.3689090.910.93%1.09%1,651 BTC
 
30 Minutes
Before87626.9588349.0087548.0088259.170.72%0.91%1,166 BTC
During88259.1889696.9788167.3689152.011.00%1.71%3,949 BTC
 
1 Hour
Before87732.0188349.0087548.0088259.170.60%0.91%1,925 BTC
During88259.1889876.0088167.3689790.031.70%1.90%6,980 BTC
 
2 Hours
Before87630.0088349.0087502.4988259.170.71%0.96%3,151 BTC
During88259.1891827.0988167.3691776.603.83%3.99%18,131 BTC
 
4 Hours
Before87522.0088349.0087124.9288259.170.84%1.39%6,319 BTC
During88259.1893265.6488167.3692210.204.28%5.47%32,832 BTC
 
6 Hours
Before87132.8088349.0086968.0088259.171.28%1.56%9,979 BTC
During88259.1893265.6488167.3691162.473.18%5.47%42,143 BTC
 
8 Hours
Before87959.9988363.6486127.9987521.99-0.50%2.53%17,911 BTC
During87522.0093265.6487124.9292210.205.08%6.58%39,151 BTC
 
12 Hours
Before87959.9988363.6486127.9988259.170.34%2.53%24,230 BTC
During88259.1893265.6487970.9889700.001.61%5.68%61,811 BTC

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