The release
Released by the Department of Labor on 21 May 2026 at 8:30 AM EDT. Initial Jobless Claims fell to 209K for the week ending 16th May, from 211K in the week ending 9th May.
It arrived at the same moment as Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.
How Bitcoin moved
Bitcoin was at $77,115.09 when the figure came out. Fifteen minutes later it was 0.17% higher, and an hour later 0.24% higher. Its high-to-low range in the hour after was 0.37% of its price, against 0.36% in the hour before.
Measured by Clometrix
Bitcoin's volatility ratio was 1.71x, against 1.51x for a typical Initial Claims release since 2021. Its volume ratio was 1.45x, against a typical 1.68x. 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 Bitcoin more than those at other times: a median volatility ratio of 1.65x across 94, against 1.43x across 209. This one was not within two weeks of a Fed decision. Its own ratio of 1.71x compares with 1.43x for those, so it moved the price more than its circumstances alone would suggest.
Its record
Across 303 Initial Claims releases since 2021, Bitcoin's median volatility ratio is 1.50x.
How it compares
Across 302 Initial Claims releases since 2021, Bitcoin's usual price swing is 1.51x. This one was 1.13 times the usual.
Thin line: Initial Claims's usual, 1.51x. Thick line: this release, 1.71x.
Minute by minute
Each row is the time after the release, with the same length of time before it for comparison.
| After | High | Low | Close | Change | Range | Range before | Volume |
|---|---|---|---|---|---|---|---|
| 1 minute | 77119.47 | 77080.72 | 77119.47 | 0.01% | 0.05% | 0.02% | 10 BTC |
| 5 minutes | 77290.01 | 77080.72 | 77277.40 | 0.21% | 0.27% | 0.09% | 60 BTC |
| 10 minutes | 77323.13 | 77080.72 | 77288.00 | 0.22% | 0.31% | 0.15% | 101 BTC |
| 15 minutes | 77323.13 | 77080.72 | 77243.74 | 0.17% | 0.31% | 0.16% | 129 BTC |
| 30 minutes | 77363.32 | 77080.72 | 77278.53 | 0.21% | 0.37% | 0.23% | 208 BTC |
| 1 hour | 77363.32 | 77080.72 | 77303.73 | 0.24% | 0.37% | 0.36% | 392 BTC |
| 2 hours | 77363.32 | 76719.47 | 77059.58 | -0.07% | 0.83% | 0.45% | 1,467 BTC |
| 4 hours | 77402.12 | 76719.47 | 77182.01 | 0.09% | 0.88% | 1.23% | 2,334 BTC |
| 6 hours | 78098.16 | 76719.47 | 77741.59 | 0.81% | 1.77% | 1.41% | 4,102 BTC |
| 8 hours | 78055.36 | 76719.47 | 77182.01 | -1.13% | 1.71% | 0.87% | 4,134 BTC |
| 12 hours | 78098.16 | 76719.47 | 77484.00 | 0.48% | 1.77% | 1.41% | 5,612 BTC |
Every coin at this release
| Coin | Price swing | Usual for Initial Claims | Reaction |
|---|---|---|---|
| Bitcoin | 1.71x | 1.50x | Ordinary |
| Ethereum | 1.64x | 1.46x | Ordinary |
| XRP | Not measured | 1.18x | - |
| BNB | 1.81x | 1.42x | Ordinary |
| Solana | 1.68x | 1.38x | Ordinary |
| Dogecoin | 2.06x | 1.38x | Strong |
| TRON | 1.24x | 1.33x | Quiet |
| Cardano | 2.00x | 1.35x | Strong |
| Chainlink | 2.69x | 1.43x | Strong |
| Sui | 1.03x | 1.24x | Quiet |
| Bitcoin Cash | 1.56x | 1.34x | Ordinary |
| Hedera | 2.89x | 1.32x | Exceptional |
| Avalanche | 2.38x | 1.42x | Strong |
| Litecoin | 2.53x | 1.39x | Strong |
| Gram | 1.54x | 1.02x | Strong |
| Shiba Inu | 1.50x | 1.33x | Ordinary |
| Uniswap | 1.54x | 1.34x | Ordinary |
| Polkadot | 1.03x | 1.32x | Quiet |
| Aave | 1.13x | 1.38x | Quiet |
| Bittensor | 1.98x | 1.40x | Strong |
| NEAR Protocol | 1.49x | 1.24x | Quiet |
| Aptos | 1.76x | 1.41x | Ordinary |
| Internet Computer | 3.01x | 1.45x | Exceptional |
| POL (prev. MATIC) | 4.60x | 1.40x | Exceptional |
| Filecoin | 1.83x | 1.27x | Strong |
What is 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.Questions about this page
Is 1.71x a lot?
For an Initial Claims release it is ordinary: the usual is 1.51x. Each report has its own usual size, and its releases show it.
Will the next Initial Claims do the same?
Nobody can say. A forecast shows the range Bitcoin moved in after past Initial Claims releases, so you can plan for the likely size of the move.
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.