BTC Volatility Analysis for Personal Income, 1st October 2021

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 1st October, 2021 has come in at a decrease to -0.6% for September 2021. Compared to the previous release for July 2021 at 1.1%, we can see that consumer sentiment is still decreasing 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 22,146 BTC with prices swinging between 44,759.91 and 47,886.11, representing a swing of 6.53%. Subsequently, the trading volume decreased by 38% to 13,801 BTC. Price action ranged from a low of 46,763.68 to a high of 47,850.00, a difference of 2.27%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 1,382 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 47,500.00 to a high of 47,886.11, a 0.81% change. Immediately following, trading volume increased by 21% to 1,678 BTC. At this time, Bitcoin hit a low of 47,185.08 with a high of 47,727.81, a change of 1.14%.

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.