LINK Volatility Analysis for Initial Claims, 18th April 2024

Data Analysis

Measured by Clometrix

Chainlink's volatility ratio was 1.89x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 2.06x, against a typical 1.63x. 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 Chainlink moved

Chainlink was at $13.22 when the figure came out. Fifteen minutes later it was 0.23% higher, and an hour later 0.61% higher. Its high-to-low range in the hour after was 1.82% of its price, against 1.89% in the hour before.

The release

Released by the Department of Labor on 18 April 2024 at 8:30 AM EDT. Initial Jobless Claims fell to 211K for the week ending 13th Apr, from 212K in the week ending 6th Apr.

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

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 13 days before the Federal Reserve's 1 May rate decision. Its own ratio of 1.89x 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

12.96

13.74

24h Change

0.78 (5.68%)

24h High

13.98

24h Low

12.82

24h Volume

3.964M LINK

US Initial Jobless Claims

Department of Labor

18th April, 2024, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time	Open	High	Low	Close	Change	Amplitude	Volume

1 Minute
Before	13.25	13.25	13.22	13.22	-0.23%	0.23%	3,046 LINK
During	13.22	13.22	13.17	13.19	-0.23%	0.38%	6,653 LINK

5 Minutes
Before	13.28	13.29	13.22	13.22	-0.45%	0.53%	8,033 LINK
During	13.22	13.22	13.09	13.13	-0.69%	0.98%	35,026 LINK

10 Minutes
Before	13.28	13.30	13.22	13.22	-0.45%	0.60%	15,993 LINK
During	13.22	13.22	13.09	13.20	-0.15%	0.98%	55,424 LINK

15 Minutes
Before	13.28	13.30	13.22	13.22	-0.45%	0.60%	26,559 LINK
During	13.22	13.26	13.09	13.25	0.23%	1.28%	66,968 LINK

30 Minutes
Before	13.35	13.38	13.22	13.22	-0.98%	1.20%	59,033 LINK
During	13.22	13.26	13.09	13.24	0.15%	1.28%	103,523 LINK

1 Hour
Before	13.44	13.47	13.22	13.22	-1.66%	1.86%	137,210 LINK
During	13.22	13.33	13.09	13.30	0.60%	1.80%	165,245 LINK

2 Hours
Before	13.21	13.47	13.19	13.22	0.08%	2.08%	426,546 LINK
During	13.22	13.58	13.09	13.56	2.51%	3.61%	461,865 LINK

4 Hours
Before	12.93	13.47	12.93	13.22	2.19%	4.01%	718,840 LINK
During	13.22	13.69	13.09	13.67	3.29%	4.38%	898,633 LINK

6 Hours
Before	13.07	13.47	12.82	13.22	1.13%	4.83%	1.336M LINK
During	13.22	13.69	13.09	13.56	2.51%	4.38%	1.103M LINK

8 Hours
Before	12.96	13.38	12.82	12.93	-0.23%	4.19%	1.494M LINK
During	12.93	13.69	12.93	13.67	5.41%	5.55%	1.617M LINK

12 Hours
Before	12.96	13.47	12.82	13.22	1.97%	4.83%	2.212M LINK
During	13.22	13.98	13.09	13.74	3.78%	6.37%	1.751M LINK