Data Analysis
The release
Released by the Bureau of Labor Statistics on 14 October 2021 at 8:30 AM EDT. The Producer Price Index came in at 0.5% for September 2021, against 0.9% in August 2021. Producer prices are still rising, but more slowly than before.
It arrived at the same moment as Core Producer Price Index, Initial Jobless Claims and Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.
How Bitcoin moved
Bitcoin was at $57,730.00 when the figure came out. Fifteen minutes later it was 0.3% lower, and an hour later 0.16% lower. Its high-to-low range in the hour after was 0.93% of its price, against 1.07% in the hour before.
Measured by Clometrix
Bitcoin's volatility ratio was 1.90x, against 2.08x for a typical PPI release since 2021. Its volume ratio was 1.74x, against a typical 2.30x. That is about what this release usually does. 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.
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 1.90x compares with 2.05x for those, about what its circumstances would suggest.
Its record
Across 70 PPI releases since 2021, Bitcoin's median volatility ratio is 2.08x.
What it means
Bitcoin registered an ordinary reaction to the October 2021 PPI release and the data that arrived with it. The price stood at $57,730 when the figures printed, then declined 0.3 percent in the first fifteen minutes and 0.16 percent after one hour. Its hourly range narrowed slightly to 0.93 percent from 1.07 percent beforehand. Clometrix recorded a volatility ratio of 1.90x against the 2.08x median for PPI since 2021, and a volume ratio of 1.74x against the usual 2.30x.
The outcome aligned with the release timing. It fell nineteen days before the next Federal Reserve decision, outside the two-week window in which PPI has produced a median volatility ratio of 2.18x. The observed 1.90x therefore matched the 2.05x median recorded for PPI releases at comparable distances from policy meetings. Because Core PPI, Initial Claims and Continued Claims printed simultaneously, the measured move reflects the combined impact rather than PPI alone.
Traders can note that PPI prints have shown limited sensitivity to Fed-meeting proximity. Across seventy releases the median volatility ratio remains 2.08x, and the present case stayed close to that benchmark despite the slower 0.5 percent print versus 0.9 percent the prior month. The record therefore supplies a stable reference for assessing future prints that land well clear of policy decisions.
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
57,316.60Close
57,134.7824h Change
-181.82 (-0.32%)24h High
58,532.5424h Low
56,818.0524h Volume
42,905 BTCUS Producer Price Index
Bureau of Labor Statistics
14th October, 2021, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 57707.69 | 57730.01 | 57693.99 | 57730.00 | 0.04% | 0.06% | 16 BTC |
| During | 57730.00 | 57730.01 | 57670.02 | 57673.59 | -0.10% | 0.10% | 18 BTC |
| 5 Minutes | |||||||
| Before | 57871.94 | 57874.64 | 57693.99 | 57730.00 | -0.25% | 0.31% | 155 BTC |
| During | 57730.00 | 57730.01 | 57600.00 | 57642.08 | -0.15% | 0.23% | 180 BTC |
| 10 Minutes | |||||||
| Before | 57660.12 | 57899.99 | 57603.59 | 57730.00 | 0.12% | 0.51% | 379 BTC |
| During | 57730.00 | 57730.01 | 57557.31 | 57578.28 | -0.26% | 0.30% | 293 BTC |
| 15 Minutes | |||||||
| Before | 57769.31 | 57899.99 | 57603.59 | 57730.00 | -0.07% | 0.51% | 533 BTC |
| During | 57730.00 | 57986.20 | 57550.02 | 57558.00 | -0.30% | 0.75% | 631 BTC |
| 30 Minutes | |||||||
| Before | 57622.42 | 57899.99 | 57397.25 | 57730.00 | 0.19% | 0.87% | 1,235 BTC |
| During | 57730.00 | 57986.20 | 57450.00 | 57563.02 | -0.29% | 0.92% | 1,093 BTC |
| 1 Hour | |||||||
| Before | 58000.00 | 58017.57 | 57397.25 | 57730.00 | -0.47% | 1.07% | 2,248 BTC |
| During | 57730.00 | 57986.20 | 57450.00 | 57639.13 | -0.16% | 0.92% | 1,723 BTC |
| 2 Hours | |||||||
| Before | 57611.22 | 58150.00 | 57397.25 | 57730.00 | 0.21% | 1.29% | 4,340 BTC |
| During | 57730.00 | 57986.20 | 57300.00 | 57549.24 | -0.31% | 1.18% | 3,522 BTC |
| 4 Hours | |||||||
| Before | 57652.38 | 58150.00 | 57189.00 | 57730.00 | 0.13% | 1.65% | 8,151 BTC |
| During | 57730.00 | 57986.20 | 56947.59 | 57096.99 | -1.11% | 1.79% | 9,086 BTC |
| 6 Hours | |||||||
| Before | 57911.89 | 58150.00 | 57189.00 | 57730.00 | -0.32% | 1.65% | 11,198 BTC |
| During | 57730.00 | 57986.20 | 56818.05 | 56949.28 | -1.37% | 2.01% | 11,376 BTC |
| 8 Hours | |||||||
| Before | 57316.60 | 58532.54 | 57138.72 | 57655.90 | 0.59% | 2.38% | 14,893 BTC |
| During | 57652.38 | 58150.00 | 56947.59 | 57096.99 | -0.97% | 2.07% | 17,237 BTC |
| 12 Hours | |||||||
| Before | 57316.60 | 58532.54 | 57138.72 | 57730.00 | 0.72% | 2.38% | 23,044 BTC |
| During | 57730.00 | 58086.98 | 56818.05 | 57134.78 | -1.04% | 2.18% | 19,861 BTC |
