BTC Volatility Analysis for GDP Report, 30th August 2023

Data Analysis

Measured by Clometrix

Bitcoin's volatility ratio was 2.76x, against 1.68x for a typical GDP Report release since 2021. Its volume ratio was 1.69x, against a typical 1.94x. That is a strong 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.

How Bitcoin moved

Bitcoin was at $27,412.10 when the figure came out. Fifteen minutes later it was 0.42% lower, and an hour later 0.05% higher. Its high-to-low range in the hour after was 0.63% of its price, against 0.34% in the hour before.

The release

Released by the Bureau of Economic Analysis on 30 August 2023 at 8:30 AM EDT. The Gross Domestic Product Report came in at 2.1% for 2023 2nd Quarter, against 2.4% in 2023 2nd Quarter. The economy's output is still rising, but more slowly than before.

What made it matter

Since 2021, GDP Report releases in the two weeks before a Fed decision have moved Bitcoin more than those at other times: a median volatility ratio of 2.22x across 16, against 1.61x across 52. This one was not within two weeks of a Fed decision. Its own ratio of 2.76x compares with 1.61x for those, so it moved the price more than its circumstances alone would suggest.

Its record

Across 68 GDP Report releases since 2021, Bitcoin's median volatility ratio is 1.68x.

About Gross Domestic Product Report

The GDP report is one of the BEA's most crucial outputs. It tells us the monetary value of all the finished goods and services produced within a country's borders in a specific time period. GDP gives the public an indication of an economy's size. Moreover, when compared against prior periods, this data can reveal whether the economy is expanding (producing more goods and services) or contracting (registering declining output). The direction of GDP helps central banks determine whether it is necessary to intervene with monetary policy or not.

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

27,701.13

Close

27,246.23

24h Change

-454.90 (-1.67%)

24h High

27,758.48

24h Low

27,017.24

24h Volume

34,755 BTC

US Gross Domestic Product Report

Bureau of Economic Analysis

30th August, 2023, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time Open High Low Close Change Amplitude Volume
 
1 Minute
Before27396.4927412.1127396.4927412.100.06%0.06%23 BTC
During27412.1027421.6927407.6727421.690.03%0.05%54 BTC
 
5 Minutes
Before27408.9727412.1127390.9927412.100.01%0.08%106 BTC
During27412.1027425.0027395.3627403.87-0.03%0.11%126 BTC
 
10 Minutes
Before27384.1227412.6827384.1227412.100.10%0.10%266 BTC
During27412.1027425.0027337.7027337.71-0.27%0.32%244 BTC
 
15 Minutes
Before27371.1727412.6827371.1727412.100.15%0.15%379 BTC
During27412.1027425.0027292.2427296.39-0.42%0.48%506 BTC
 
30 Minutes
Before27338.5227412.6827318.2027412.100.27%0.34%796 BTC
During27412.1027425.0027292.2427353.64-0.21%0.48%871 BTC
 
1 Hour
Before27380.0027412.6827318.2027412.100.12%0.34%1,290 BTC
During27412.1027464.4527292.2427426.530.05%0.63%1,692 BTC
 
2 Hours
Before27434.8927448.8627318.2027412.10-0.08%0.48%2,118 BTC
During27412.1027464.4527145.2327301.06-0.41%1.16%5,644 BTC
 
4 Hours
Before27435.4327499.0027310.0527412.10-0.09%0.69%4,517 BTC
During27412.1027464.4527017.2427167.25-0.90%1.63%12,541 BTC
 
6 Hours
Before27431.4027499.0027310.0527412.10-0.07%0.69%6,540 BTC
During27412.1027464.4527017.2427135.52-1.02%1.63%15,266 BTC
 
8 Hours
Before27701.1327758.4827280.9927435.44-0.97%1.72%10,493 BTC
During27435.4327499.0027017.2427167.25-0.99%1.75%17,058 BTC
 
12 Hours
Before27701.1327758.4827280.9927412.10-1.05%1.72%15,010 BTC
During27412.1027464.4527017.2427246.23-0.61%1.63%19,744 BTC

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