LINK Volatility Analysis for Initial Claims, 25th January 2024

Data Analysis

Measured by Clometrix

Chainlink's volatility ratio was 2.35x, against 1.43x for a typical Initial Claims release since 2021. Its volume ratio was 2.71x, 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 $13.64 when the figure came out. Fifteen minutes later it was 0.15% higher, and an hour later 0.44% higher. Its high-to-low range in the hour after was 1.17% of its price, against 1.47% in the hour before.

The release

Released by the Department of Labor on 25 January 2024 at 8:30 AM EST. Initial Jobless Claims rose to 223K for the week ending 20th Jan, from 193K in the week ending 13th Jan.

It arrived at the same moment as Durable Goods Orders, Durable Goods Orders Excluding Transportation, Gross Domestic Product Report and 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 6 days before the Federal Reserve's 31 January rate decision. Its own ratio of 2.35x 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

14.12

13.75

24h Change

-0.37 (-2.69%)

24h High

14.13

24h Low

13.51

24h Volume

3.982M LINK

US Initial Jobless Claims

Department of Labor

25th January, 2024, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time	Open	High	Low	Close	Change	Amplitude	Volume

1 Minute
Before	13.63	13.64	13.62	13.64	0.07%	0.15%	2,594 LINK
During	13.64	13.66	13.62	13.65	0.07%	0.29%	4,914 LINK

5 Minutes
Before	13.65	13.65	13.60	13.64	-0.07%	0.37%	61,929 LINK
During	13.64	13.78	13.62	13.71	0.51%	1.16%	52,387 LINK

10 Minutes
Before	13.70	13.72	13.60	13.64	-0.44%	0.87%	150,083 LINK
During	13.64	13.78	13.62	13.71	0.51%	1.16%	70,449 LINK

15 Minutes
Before	13.73	13.74	13.60	13.64	-0.66%	1.02%	159,526 LINK
During	13.64	13.78	13.62	13.66	0.15%	1.16%	85,255 LINK

30 Minutes
Before	13.73	13.76	13.60	13.64	-0.66%	1.16%	188,960 LINK
During	13.64	13.78	13.62	13.71	0.51%	1.16%	131,832 LINK

1 Hour
Before	13.79	13.80	13.60	13.64	-1.10%	1.45%	342,611 LINK
During	13.64	13.78	13.62	13.70	0.44%	1.16%	215,468 LINK

2 Hours
Before	13.89	13.93	13.60	13.64	-1.83%	2.37%	518,275 LINK
During	13.64	13.79	13.58	13.64	0.00%	1.52%	431,087 LINK

4 Hours
Before	13.93	13.95	13.60	13.64	-2.13%	2.51%	998,931 LINK
During	13.64	13.79	13.51	13.65	0.07%	2.03%	960,351 LINK

6 Hours
Before	14.03	14.07	13.60	13.64	-2.86%	3.34%	1.16M LINK
During	13.64	13.81	13.51	13.76	0.87%	2.17%	1.408M LINK

8 Hours
Before	14.12	14.13	13.85	13.93	-1.36%	1.98%	796,290 LINK
During	13.93	13.95	13.51	13.65	-2.05%	3.15%	1.959M LINK

12 Hours
Before	14.12	14.13	13.60	13.64	-3.52%	3.75%	1.795M LINK
During	13.64	13.88	13.51	13.75	0.80%	2.67%	2.186M LINK