BTC Volatility Analysis for Durable Orders, 25th January 2024

Data Analysis

The data released by Bureau of Census for Durable Goods Orders on 25th January, 2024 has come in at a decrease to 1.9% for December 2023. Compared to the previous release for November 2023 at 4.4%, we can see that business confidence is still increasing but slowed month over month.

To see the impact and volatility of BTC's price during the Durable Orders release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.

4-Hours Chart Analysis

In the period prior to the release, the trading volume was 6,533 BTC with prices swinging between 39,798.68 and 40,300.24, representing a swing of 1.24%. Subsequently, the trading volume increased by 21% to 7,901 BTC. Price action ranged from a low of 39,550.00 to a high of 40,090.19, a difference of 1.35%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 320 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 39,816.76 to a high of 39,893.42, a 0.19% change. Immediately following, trading volume increased considerably by 53% to 488 BTC. At this time, Bitcoin hit a low of 39,805.51 with a high of 39,965.03, a significant change of 0.40%.

About Durable Goods Orders

The U.S. Census Bureau publishes the Durable Goods Orders report every month. Durable goods orders reflect new orders placed with domestic manufacturers for delivery of long-lasting manufactured goods (durable goods) in the near term or future. The change in the total value of new orders is measured and shared with the public in two releases per month: the advance report on durable goods and the manufacturers' shipments, inventories, and orders.