BTC Volatility Analysis for PPI, 9th November 2021

Data Analysis

The release

Released by the Bureau of Labor Statistics on 9 November 2021 at 8:30 AM EST. The Producer Price Index came in at 0.6% for October 2021, against 0.5% in September 2021. 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 0.81x, against 2.08x for a typical PPI release since 2021. Its volume ratio was 0.74x, 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 $67,716.01 when the figure came out. Fifteen minutes later it was 0.12% higher, and an hour later 0.1% higher. Its high-to-low range in the hour after was 0.79% of its price, against 0.68% 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 0.81x compares with 2.05x for those, so it moved the price less than its circumstances would suggest.

What it means

Bitcoin posted a subdued reaction to the November 2021 PPI release, with a volatility ratio of 0.81x against the 2.08x typical for the event since 2021. Volume reached only 0.74x normal levels in the quarter hour after the print. The price opened the interval at $67,716.01 and rose 0.12 percent in the first fifteen minutes.

The release arrived together with the Core PPI figure of 0.45 percent and sat 35 days before the next Federal Reserve decision. Producer prices advanced 0.6 percent month-over-month from the prior 0.5 percent. Bitcoin's hourly range widened only to 0.79 percent from 0.68 percent beforehand.

Clometrix data show PPI releases inside the two-week window before policy meetings have generated a median volatility ratio of 2.18x, nearly identical to the 2.05x recorded at other times. The 0.81x outcome here therefore fell short of what the surrounding calendar would normally produce. A trader examining the next PPI may observe that even an acceleration in producer prices can leave Bitcoin largely unmoved when the print occurs well clear of imminent policy dates.

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

67,363.01

Close

67,168.51

24h Change

-194.50 (-0.29%)

24h High

68,524.25

24h Low

66,222.40

24h Volume

43,792 BTC

US Producer Price Index

Bureau of Labor Statistics

9th November, 2021, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time Open High Low Close Change Amplitude Volume
 
1 Minute
Before67701.6867720.0067674.1167716.010.02%0.07%17 BTC
During67716.0167719.7367651.0167677.93-0.06%0.10%20 BTC
 
5 Minutes
Before67670.0167738.8767652.7467716.010.07%0.13%86 BTC
During67716.0167719.7367580.0167608.28-0.16%0.21%84 BTC
 
10 Minutes
Before67766.8767770.7367652.7467716.01-0.08%0.17%174 BTC
During67716.0167719.7367580.0167669.98-0.07%0.21%159 BTC
 
15 Minutes
Before67766.2067809.6467652.7467716.01-0.07%0.23%261 BTC
During67716.0167800.0067580.0167800.000.12%0.32%267 BTC
 
30 Minutes
Before67550.0167895.0067533.2067716.010.25%0.53%666 BTC
During67716.0168116.5667580.0168080.370.54%0.79%800 BTC
 
1 Hour
Before67501.0167895.0067432.7267716.010.32%0.68%1,366 BTC
During67716.0168116.5667580.0167785.240.10%0.79%1,674 BTC
 
2 Hours
Before67698.8967895.0067241.9067716.010.03%0.96%3,981 BTC
During67716.0168116.5666622.4067035.99-1.01%2.19%6,554 BTC
 
4 Hours
Before67905.6768238.0067241.9067716.01-0.28%1.46%6,943 BTC
During67716.0168116.5666222.4066529.00-1.78%2.78%11,622 BTC
 
6 Hours
Before67897.7868238.0067241.9067716.01-0.27%1.46%9,359 BTC
During67716.0168116.5666222.4066607.48-1.66%2.78%14,223 BTC
 
8 Hours
Before67363.0168524.2567271.6967905.660.80%1.83%14,516 BTC
During67905.6768238.0066222.4066529.00-2.07%2.95%18,566 BTC
 
12 Hours
Before67363.0168524.2567241.9067716.010.52%1.87%21,459 BTC
During67716.0168116.5666222.4067168.51-0.82%2.78%22,333 BTC

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