BTC Volatility Analysis for Personal Income, 31st March 2022

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 31st March, 2022 has come in at an increase to 0.7% for February 2022. Compared to the previous release for January 2022 at 0.0%, we can see that consumer sentiment is increasing month over month.

To see the impact and volatility of BTC's price during the Personal Income 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 5,294 BTC with prices swinging between 47,000.00 and 47,386.70, representing a swing of 0.82%. Subsequently, the trading volume increased significantly by 243% to 18,145 BTC. Price action ranged from a low of 45,873.37 to a high of 47,600.00, a significant difference of 3.63%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 380 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 47,108.37 to a high of 47,310.18, a 0.43% change. Immediately following, trading volume increased significantly by 229% to 1,250 BTC. At this time, Bitcoin hit a low of 47,261.80 with a high of 47,540.46, a change of 0.59%.

About Personal Income and Outlays

Personal Income measures the change in the total value of income received from all sources by consumers. Income is closely correlated with consumer spending, which accounts for a majority of overall economic activity.