BTC Volatility Analysis for PPI, 10th September 2021

Data Analysis

The release

Released by the Bureau of Labor Statistics on 10 September 2021 at 8:30 AM EDT. The Producer Price Index came in at 0.9% for August 2021, against 1.0% in July 2021. Producer prices are still rising, but more slowly 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 0.91x, against 2.08x for a typical PPI release since 2021. Its volume ratio was 0.97x, 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 $46,074.77 when the figure came out. Fifteen minutes later it was unchanged, and an hour later 0.11% lower. Its high-to-low range in the hour after was 1.17% of its price, against 1.07% 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 came out 12 days before the Federal Reserve's 22 September rate decision. Its own ratio of 0.91x compares with 2.18x for those, so it moved the price less than its circumstances would suggest.

What it means

Bitcoin showed almost no reaction to the August 2021 PPI release. Volatility reached just 0.91 times a normal quarter hour, compared with the 2.08 times median recorded across PPI prints since 2021. Volume stayed flat at 0.97 times normal. The market effectively ignored the 0.9 percent print that arrived alongside the core figure.

The release came twelve days before the Federal Reserve's September rate decision. Even in that window, Bitcoin remained unchanged at $46,074.77 fifteen minutes after the print and moved only 0.11 percent lower after an hour. Its hourly range widened only slightly to 1.17 percent from 1.07 percent beforehand.

PPI releases in the two weeks before a Fed meeting have produced a median volatility ratio of 2.18 times. This instance fell well short of that benchmark. The record therefore shows that proximity to policy decisions does not guarantee a response from Bitcoin, and traders watching the next PPI print cannot assume timing alone will create movement.

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

46,480.02

Close

45,077.25

24h Change

-1402.77 (-3.11%)

24h High

47,033.00

24h Low

44,132.29

24h Volume

49,630 BTC

US Producer Price Index

Bureau of Labor Statistics

10th September, 2021, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time Open High Low Close Change Amplitude Volume
 
1 Minute
Before46082.9746086.8046054.1246074.76-0.02%0.07%29 BTC
During46074.7746074.7746010.1546020.61-0.12%0.14%27 BTC
 
5 Minutes
Before46126.0646174.9946030.3746074.76-0.11%0.31%102 BTC
During46074.7746075.0245954.3546052.02-0.05%0.26%153 BTC
 
10 Minutes
Before46130.1346232.1746030.3746074.76-0.12%0.44%231 BTC
During46074.7746129.9945954.3546027.10-0.10%0.38%271 BTC
 
15 Minutes
Before46188.0246232.1746003.0546074.76-0.25%0.50%451 BTC
During46074.7746140.1545954.3546087.150.03%0.40%388 BTC
 
30 Minutes
Before46331.8546494.9946003.0546074.76-0.56%1.06%920 BTC
During46074.7746140.1545840.3245914.88-0.35%0.65%788 BTC
 
1 Hour
Before46080.0246494.9946003.0546074.76-0.01%1.06%1,624 BTC
During46074.7746140.1545600.0046023.54-0.11%1.17%2,542 BTC
 
2 Hours
Before46157.2646494.9945956.7846074.76-0.18%1.16%3,132 BTC
During46074.7746232.4745142.4445309.88-1.69%2.36%6,887 BTC
 
4 Hours
Before46203.7246494.9945623.4446074.76-0.28%1.87%7,813 BTC
During46074.7746232.4744738.9045502.32-1.26%3.23%14,620 BTC
 
6 Hours
Before46574.6846582.0045623.4446074.76-1.09%2.06%12,337 BTC
During46074.7746232.4744738.9045790.83-0.62%3.23%17,542 BTC
 
8 Hours
Before46480.0247033.0045900.0046203.73-0.60%2.41%12,121 BTC
During46203.7246494.9944738.9045502.32-1.54%3.78%22,433 BTC
 
12 Hours
Before46480.0247033.0045623.4446074.76-0.88%3.00%19,934 BTC
During46074.7746232.4744132.2945077.25-2.21%4.54%29,696 BTC

Your trading edge begins today.

Get Started Now