BTC Volatility Analysis for International Exports, 8th August 2023

Data Analysis

The data released by Bureau of Census, Bureau of Economic Analysis for International Exports in Goods and Services on 8th August, 2023 has come in at a decrease to $251.9B for June 2023. Compared to the previous release for May 2023 at $252.6B, we can see that foreign trade is still increasing but slowed month over month.

To see the impact and volatility of BTC's price during the International Exports release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.

4-Hours Chart Analysis

In the period prior to the release, the trading volume was 5,745 BTC with prices swinging between 29,171.47 and 29,495.00, representing a swing of 1.10%. Subsequently, the trading volume increased significantly by 107% to 11,866 BTC. Price action ranged from a low of 29,354.00 to a high of 29,674.70, a difference of 1.08%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 698 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 29,401.00 to a high of 29,495.00, a 0.32% change. Immediately following, trading volume increased by 37% to 955 BTC. At this time, Bitcoin hit a low of 29,446.00 with a high of 29,544.87, a change of 0.33%.

About International Exports in Goods and Services

International Exports measures economic transactions between a nation and its trading partners, showing the amount of a country's exports for a given period. The BEA and Census Bureau reports on the U.S. balance of payments (BOP), covering goods and services that move out of the country. Economists use this information to gauge the relative strength of a country's economy.