The release
Released by the Department of Labor on 18 January 2024 at 8:30 AM EST. Initial Jobless Claims fell to 193K for the week ending 13th Jan, from 199K in the week ending 6th Jan.
It arrived at the same moment as Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.
How Ethereum moved
Ethereum was at $2,507.75 when the figure came out. Fifteen minutes later it was 0.39% higher, and an hour later 0.78% higher. Its high-to-low range in the hour after was 0.88% of its price, against 0.47% in the hour before.
Measured by Clometrix
Ethereum's volatility ratio was 1.66x, against 1.47x for a typical Initial Claims release since 2021. Its volume ratio was 1.59x, 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 Ethereum more than those at other times: a median volatility ratio of 1.63x across 92, against 1.41x across 204. This one came out 13 days before the Federal Reserve's 31 January rate decision. Its own ratio of 1.66x compares with 1.63x for those, about what its circumstances would suggest.
Its record
Across 296 Initial Claims releases since 2021, Ethereum's median volatility ratio is 1.47x.
How it compares
Across 296 Initial Claims releases since 2021, Ethereum's usual price swing is 1.47x. This one was 1.13 times the usual.
Thin line: Initial Claims's usual, 1.47x. Thick line: this release, 1.66x.
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 | 2507.76 | 2506.55 | 2506.56 | -0.05% | 0.05% | 0.06% | 399 ETH |
| 5 minutes | 2510.16 | 2506.55 | 2510.15 | 0.10% | 0.14% | 0.11% | 1,037 ETH |
| 10 minutes | 2515.89 | 2506.55 | 2513.45 | 0.23% | 0.37% | 0.15% | 3,780 ETH |
| 15 minutes | 2518.32 | 2506.55 | 2517.54 | 0.39% | 0.47% | 0.22% | 5,391 ETH |
| 30 minutes | 2523.31 | 2506.55 | 2515.55 | 0.31% | 0.66% | 0.37% | 9,421 ETH |
| 1 hour | 2528.54 | 2506.55 | 2527.25 | 0.77% | 0.87% | 0.47% | 16,614 ETH |
| 2 hours | 2535.27 | 2506.55 | 2527.06 | 0.76% | 1.13% | 0.76% | 29,895 ETH |
| 4 hours | 2535.27 | 2471.00 | 2493.96 | -0.55% | 2.54% | 1.70% | 98,461 ETH |
| 6 hours | 2535.27 | 2455.24 | 2472.94 | -1.41% | 3.16% | 1.81% | 157,594 ETH |
| 8 hours | 2546.96 | 2471.00 | 2493.96 | -2.06% | 2.98% | 1.57% | 156,531 ETH |
| 12 hours | 2535.27 | 2428.56 | 2459.67 | -1.95% | 4.21% | 1.81% | 276,845 ETH |
Every coin at this release
| Coin | Price swing | Usual for Initial Claims | Reaction |
|---|---|---|---|
| Bitcoin | 1.75x | 1.52x | Ordinary |
| Ethereum | 1.66x | 1.47x | Ordinary |
| XRP | 1.14x | 1.18x | Quiet |
| BNB | 1.45x | 1.42x | Quiet |
| Solana | 2.00x | 1.39x | Strong |
| Dogecoin | 1.73x | 1.39x | Ordinary |
| TRON | 1.19x | 1.33x | Quiet |
| Cardano | 1.61x | 1.35x | Ordinary |
| Chainlink | 1.94x | 1.43x | Strong |
| Sui | 1.89x | 1.24x | Strong |
| Bitcoin Cash | 1.45x | 1.34x | Quiet |
| Hedera | 1.76x | 1.32x | Strong |
| Avalanche | 1.81x | 1.42x | Ordinary |
| Litecoin | 2.03x | 1.38x | Strong |
| Shiba Inu | 1.77x | 1.34x | Strong |
| Uniswap | 1.94x | 1.35x | Strong |
| Polkadot | 2.28x | 1.31x | Strong |
| Aave | 2.09x | 1.38x | Strong |
| NEAR Protocol | 1.04x | 1.24x | Quiet |
| Aptos | 2.46x | 1.41x | Strong |
| Internet Computer | 2.07x | 1.46x | Strong |
| POL (prev. MATIC) | 1.99x | 1.42x | Strong |
| Filecoin | 2.17x | 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 1.66x a lot?
For an Initial Claims release it is ordinary: the usual is 1.47x. 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 Ethereum moved in after past Initial Claims releases, so you can plan for the likely size of the move.
Do weekly jobless claims move crypto?
Weekly jobless claims have a median Bitcoin price swing of 1.52x since 2021, which places Initial Claims and Continued Claims in Tier 3. They are released at 8:30 a.m. ET. When a claims release falls on the same minute as a bigger report, such as CPI, the reaction belongs to both. Clometrix measures 296 claims releases in the record since 2021.
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.