The release
Released by the Bureau of Labor Statistics on 2 July 2024 at 10:00 AM EDT. The Job Openings and Labor Turnover Survey rose to 7.901M for May 2024, from 7.619M in April 2024.
How Bittensor moved
Bittensor was at $270.60 when the figure came out. Fifteen minutes later it was 0.92% lower, and an hour later 0.89% lower. Its high-to-low range in the hour after was 1.74% of its price, against 1.55% in the hour before.
Measured by Clometrix
Bittensor's volatility ratio was 1.95x, against 1.75x for a typical JOLTs Job Openings release since 2021. Its volume ratio was 1.73x, against a typical 2.19x. 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, JOLTs Job Openings releases in the two weeks before a Fed decision have moved Bittensor about as much as those at other times: a median volatility ratio of 1.75x across 10, against 1.87x across 19. This one was not within two weeks of a Fed decision. Its own ratio of 1.95x compares with 1.87x for those, about what its circumstances would suggest.
Its record
Across 29 JOLTs Job Openings releases since 2021, Bittensor's median volatility ratio is 1.75x.
How it compares
Across 29 JOLTs Job Openings releases since 2021, Bittensor's usual price swing is 1.75x. This one was 1.11 times the usual.
Thin line: JOLTs Job Openings's usual, 1.75x. Thick line: this release, 1.95x.
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 | 270.90 | 270.20 | 270.70 | 0.04% | 0.26% | 0.15% | 32 TAO |
| 5 minutes | 270.90 | 270.00 | 270.30 | -0.11% | 0.33% | 0.55% | 197 TAO |
| 10 minutes | 270.90 | 269.50 | 269.50 | -0.41% | 0.52% | 1.07% | 347 TAO |
| 15 minutes | 270.90 | 267.60 | 268.10 | -0.93% | 1.22% | 1.07% | 580 TAO |
| 30 minutes | 270.90 | 266.40 | 270.20 | -0.15% | 1.66% | 1.54% | 1,280 TAO |
| 1 hour | 271.10 | 266.40 | 268.20 | -0.89% | 1.73% | 1.54% | 2,164 TAO |
| 2 hours | 271.10 | 266.40 | 267.40 | -1.20% | 1.73% | 1.90% | 3,225 TAO |
| 4 hours | 271.10 | 262.40 | 265.70 | -1.84% | 3.21% | 1.90% | 6,967 TAO |
| 6 hours | 271.10 | 259.20 | 260.40 | -3.92% | 4.39% | 2.37% | 11,943 TAO |
| 8 hours | 274.30 | 262.40 | 265.70 | -1.99% | 4.34% | 3.11% | 11,572 TAO |
| 12 hours | 271.10 | 231.10 | 236.60 | -14.37% | 14.75% | 3.11% | 120,351 TAO |
Every coin at this release
| Coin | Price swing | Usual for JOLTs Job Openings | Reaction |
|---|---|---|---|
| Bitcoin | 3.44x | 2.22x | Strong |
| Ethereum | 4.57x | 2.00x | Exceptional |
| XRP | 2.87x | 1.58x | Strong |
| BNB | 3.30x | 1.77x | Strong |
| Solana | 2.11x | 1.81x | Ordinary |
| Dogecoin | 2.25x | 1.76x | Ordinary |
| TRON | 1.01x | 1.52x | Quiet |
| Cardano | 2.21x | 1.66x | Strong |
| Chainlink | 1.84x | 1.71x | Ordinary |
| Sui | 3.36x | 1.91x | Strong |
| Bitcoin Cash | 3.08x | 1.81x | Strong |
| Hedera | 2.00x | 1.53x | Strong |
| Avalanche | 2.50x | 1.67x | Strong |
| Litecoin | 2.45x | 1.87x | Strong |
| Shiba Inu | 2.17x | 1.49x | Strong |
| Uniswap | 2.30x | 1.53x | Strong |
| Polkadot | 2.00x | 1.63x | Ordinary |
| Aave | 1.83x | 1.79x | Ordinary |
| Bittensor | 1.95x | 1.75x | Ordinary |
| NEAR Protocol | 2.33x | 1.57x | Strong |
| Aptos | 2.36x | 1.77x | Strong |
| Internet Computer | 2.68x | 1.69x | Strong |
| POL (prev. MATIC) | 2.19x | 1.82x | Ordinary |
| Filecoin | 1.52x | 1.50x | Ordinary |
What is the Job Openings and Labor Turnover Survey?
The job openings and labor turnover survey (JOLTS) is a monthly report by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor counting job vacancies and separations, including the number of workers voluntarily quitting employment. The BLS surveys more than 20,000 businesses and government offices to estimate the numbers of U.S. job vacancies, hires, and separations included in the monthly jobs report. The job separations numbers are subdivided into three categories: quits, or voluntary resignations; layoffs and discharges; and other separations, which include deaths and retirements. The number of vacancies is a widely followed indicator of labor demand, while the quits rate is partly a function of employment demand. Job hires and separations can be used to gauge labor turnover.Questions about this page
Is 1.95x a lot?
For a JOLTs Job Openings release it is ordinary: the usual is 1.75x. Each report has its own usual size, and its releases show it.
Will the next JOLTs Job Openings do the same?
Nobody can say. A forecast shows the range Bittensor moved in after past JOLTs Job Openings releases, so you can plan for the likely size of the move.
What is the JOLTs report?
JOLTs is the Job Openings and Labor Turnover Survey published by the Bureau of Labor Statistics. It is released at 10:00 a.m. ET. Its median Bitcoin price swing since 2021 is 2.22x, which places it in Tier 2.
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.