BTC Volatility Analysis for International Exports, 9th January 2024

Data Analysis

The data released by Bureau of Census, Bureau of Economic Analysis for International Exports in Goods and Services on 9th January, 2024 has come in at a decrease to $257.3B for November 2023. Compared to the previous release for October 2023 at $262.5B, 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 11,343 BTC with prices swinging between 45,450.00 and 47,000.00, representing a swing of 3.30%. Subsequently, the trading volume remain relatively unchanged at 11,012 BTC. Price action ranged from a low of 46,429.31 to a high of 47,051.21, a difference of 1.32%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 1,160 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 46,480.00 to a high of 46,838.97, a 0.77% change. Immediately following, trading volume decreased by 38% to 715 BTC. At this time, Bitcoin hit a low of 46,599.39 with a high of 46,764.00, a change of 0.35%.

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.