LINK Volatility Analysis for Initial Claims, 12th December 2024

Data Analysis

The release

Released by the Department of Labor on 12 December 2024 at 8:30 AM EST. Initial Jobless Claims rose to 239K for the week ending 7th Dec, from 225K in the week ending 30th Nov.

It arrived at the same moment as Producer Price Index, Core Producer Price Index and Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.

How Chainlink moved

Chainlink was at $28.03 when the figure came out. Fifteen minutes later it was 1.25% lower, and an hour later 0.29% higher. Its high-to-low range in the hour after was 2.93% of its price, against 2.1% in the hour before.

Measured by Clometrix

Chainlink's volatility ratio was 1.79x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 2.66x, against a typical 1.63x. That is about what this release usually does. 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, Initial Claims releases in the two weeks before a Fed decision have moved Chainlink about as much as those at other times: a median volatility ratio of 1.45x across 93, against 1.38x across 208. This one came out 6 days before the Federal Reserve's 18 December rate decision. Its own ratio of 1.79x compares with 1.45x for those, so it moved the price more than its circumstances alone would suggest.

Its record

Across 301 Initial Claims releases since 2021, Chainlink's median volatility ratio is 1.43x.

About Initial Jobless Claims

The weekly claims report is released Thursdays at 8:30 a.m. ET by the U.S. Department of Labor (DOL). Initial claims are new jobless claims filed by U.S. workers seeking unemployment compensation, included in the unemployment insurance weekly claims report. The report, published since 1967, includes a separate count of workers receiving unemployment insurance benefits, known as continuing claims.

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.

LINK-USDT

Chainlink

Open

24.24

28.35

24h Change

4.11 (14.50%)

24h High

29.72

24h Low

24.07

24h Volume

22.352M LINK

US Initial Jobless Claims

Department of Labor

12th December, 2024, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time	Open	High	Low	Close	Change	Amplitude	Volume

1 Minute
Before	27.97	28.06	27.96	28.04	0.25%	0.36%	5,184 LINK
During	28.03	28.15	28.03	28.07	0.14%	0.43%	14,683 LINK

5 Minutes
Before	27.99	28.06	27.94	28.04	0.18%	0.43%	30,611 LINK
During	28.03	28.15	27.46	27.81	-0.79%	2.45%	239,436 LINK

10 Minutes
Before	28.09	28.17	27.94	28.04	-0.18%	0.82%	131,463 LINK
During	28.03	28.15	27.41	27.76	-0.97%	2.63%	431,826 LINK

15 Minutes
Before	27.79	28.17	27.77	28.04	0.89%	1.42%	207,138 LINK
During	28.03	28.15	27.41	27.68	-1.26%	2.63%	483,593 LINK

30 Minutes
Before	27.76	28.17	27.74	28.04	1.00%	1.53%	359,815 LINK
During	28.03	28.15	27.33	27.88	-0.54%	2.91%	725,748 LINK

1 Hour
Before	27.72	28.17	27.58	28.04	1.14%	2.09%	751,876 LINK
During	28.03	28.15	27.33	28.11	0.28%	2.91%	999,096 LINK

2 Hours
Before	27.96	28.20	27.55	28.04	0.29%	2.30%	1.382M LINK
During	28.03	28.51	27.33	28.17	0.50%	4.14%	1.727M LINK

4 Hours
Before	28.51	28.55	27.55	28.04	-1.68%	3.50%	2.851M LINK
During	28.03	28.58	27.33	28.40	1.30%	4.37%	2.613M LINK

6 Hours
Before	29.11	29.20	27.55	28.04	-3.82%	5.65%	4.31M LINK
During	28.03	28.58	27.33	27.56	-1.71%	4.37%	3.101M LINK

8 Hours
Before	24.24	29.45	24.07	28.51	14.98%	18.27%	10.204M LINK
During	28.51	28.58	27.33	28.40	-0.39%	4.37%	5.464M LINK

12 Hours
Before	24.24	29.45	24.07	28.04	13.55%	18.27%	13.055M LINK
During	28.03	29.72	26.75	28.35	1.13%	9.99%	9.297M LINK