BTC Volatility Analysis for PPI, 13th April 2022

Data Analysis

The release

Released by the Bureau of Labor Statistics on 13 April 2022 at 8:30 AM EDT. The Producer Price Index came in at 1.7% for March 2022, against 0.9% in February 2022. Producer prices are rising faster than before.

It arrived at the same moment as Core Producer Price Index, so the reaction measured on this page belongs to all of them together.

Measured by Clometrix

Bitcoin's volatility ratio was 1.22x, against 2.08x for a typical PPI release since 2021. Its volume ratio was 1.17x, against a typical 2.30x. Under 1.5x is not a reaction at all: the market barely noticed this release. 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.

How Bitcoin moved

Bitcoin was at $39,720.83 when the figure came out. Fifteen minutes later it was 0.24% higher, and an hour later 0.3% higher. Its high-to-low range in the hour after was 0.58% of its price, against 0.86% in the hour before.

What made it matter

Since 2021, PPI releases in the two weeks before a Fed decision have moved Bitcoin about as much as those at other times: a median volatility ratio of 2.18x across 29, against 2.05x across 41. This one was not within two weeks of a Fed decision. Its own ratio of 1.22x compares with 2.05x for those, so it moved the price less than its circumstances would suggest.

What it means

Bitcoin showed a quiet reaction to the March 2022 PPI release, posting a volatility ratio of 1.22x that fell short of the 2.08x median recorded across PPI events since 2021. Volume rose only 1.17x against the typical 2.30x, confirming the market registered little change from an ordinary quarter hour that day. The release printed 1.7% month-over-month, up from 0.9% in February, and arrived alongside the core reading.

Price action stayed contained. Bitcoin stood at $39,720.83 at the 8:30 AM release and rose 0.24% within fifteen minutes and 0.3% within the hour. The high-to-low range reached just 0.58% of spot in that hour, narrower than the 0.86% observed beforehand.

The outcome stands out against the event record because this release fell outside the two-week window ahead of the May Federal Reserve decision. PPI prints in that window have produced a 2.18x median volatility ratio, while those at other times have shown 2.05x. The 1.22x reading here therefore landed below what the timing alone would have implied.

Traders reviewing the next PPI release may note that proximity to policy meetings has not altered median volatility in any material way across the full sample, while individual prints can still produce outsized moves regardless of schedule.

About Producer Price Index

The Producer Price Index (PPI) measures the average change over time in the prices domestic producers receive for their output. It is a measure of inflation at the wholesale level that is compiled from thousands of indexes measuring producer prices by industry and product category. The index is published monthly by the U.S. Bureau of Labor Statistics (BLS).

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.

BTC-USDT

Bitcoin

Open

40,075.04

Close

41,226.06

24h Change

1151.02 (2.79%)

24h High

41,561.31

24h Low

39,588.54

24h Volume

41,291 BTC

US Producer Price Index

Bureau of Labor Statistics

13th April, 2022, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time Open High Low Close Change Amplitude Volume
 
1 Minute
Before39757.2539757.2639718.4239720.83-0.09%0.10%23 BTC
During39720.8339749.8039660.0039743.010.06%0.23%69 BTC
 
5 Minutes
Before39772.9839774.9139711.6739720.83-0.13%0.16%90 BTC
During39720.8339767.8639660.0039719.720.00%0.27%172 BTC
 
10 Minutes
Before39849.9039849.9139711.6739720.83-0.32%0.35%199 BTC
During39720.8339767.8639660.0039731.260.03%0.27%261 BTC
 
15 Minutes
Before39850.0039898.5339711.6739720.83-0.33%0.47%319 BTC
During39720.8339829.4739660.0039815.040.24%0.43%338 BTC
 
30 Minutes
Before39722.6339935.3039648.7839720.830.00%0.72%1,245 BTC
During39720.8339838.2539660.0039700.01-0.05%0.45%599 BTC
 
1 Hour
Before39967.7439990.0039648.7839720.83-0.62%0.85%2,135 BTC
During39720.8339851.4539622.8739838.290.29%0.57%1,286 BTC
 
2 Hours
Before39856.2939990.0039648.7839720.83-0.34%0.85%3,313 BTC
During39720.8340957.0039622.8740576.942.11%3.26%7,809 BTC
 
4 Hours
Before40053.6840212.7539648.7839720.83-0.84%1.40%5,476 BTC
During39720.8341411.0039622.8741134.583.44%4.32%14,920 BTC
 
6 Hours
Before40079.4340226.0739648.7839720.83-0.90%1.44%8,074 BTC
During39720.8341411.0039622.8741187.033.56%4.32%19,671 BTC
 
8 Hours
Before40075.0440275.0039588.5440053.68-0.05%1.70%8,618 BTC
During40053.6841411.0039622.8741134.582.63%4.32%20,395 BTC
 
12 Hours
Before40075.0440275.0039588.5439720.83-0.89%1.70%14,094 BTC
During39720.8341561.3139622.8741226.063.65%4.66%27,197 BTC

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