BTC Volatility Analysis for Personal Income, 31st March 2023

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 31st March, 2023 has come in at a decrease to 0.6% for February 2023. Compared to the previous release for January 2023 at 0.6%, we can see that consumer sentiment is still increasing but slowed 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 9,733 BTC with prices swinging between 27,688.00 and 27,992.05, representing a swing of 1.09%. Subsequently, the trading volume increased significantly by 153% to 24,580 BTC. Price action ranged from a low of 27,882.81 to a high of 28,656.69, a significant difference of 2.70%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 532 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 27,870.93 to a high of 27,953.87, a 0.30% change. Immediately following, trading volume increased significantly by 483% to 3,101 BTC. At this time, Bitcoin hit a low of 27,882.81 with a high of 28,185.63, a significant change of 1.07%.

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.