Data Analysis
The release
Released by the Bureau of Labor Statistics on 13 May 2021 at 8:30 AM EDT. The Producer Price Index came in at 1.1% for April 2021, against 0.7% in March 2021. Producer prices are rising faster 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.
Measured by Clometrix
Bitcoin's volatility ratio was 0.63x, against 2.08x for a typical PPI release since 2021. Its volume ratio was 0.82x, 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 $50,269.64 when the figure came out. Fifteen minutes later it was 0.38% lower, and an hour later 0.59% lower. Its high-to-low range in the hour after was 1.7% of its price, against 2.01% 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 0.63x compares with 2.05x for those, so it moved the price less than its circumstances would suggest.
What it means
Bitcoin registered a quiet reaction to the May 2021 PPI release. Its volatility ratio reached only 0.63x against the 2.08x median recorded for PPI prints since 2021, while volume rose just 0.82x versus the usual 2.30x.
The release fell 33 days before the June FOMC decision, placing it outside the two-week window that normally draws closer attention. Its volatility ratio remained well below the 2.05x median Clometrix records for PPI releases that also occurred away from policy meetings. The outcome shows that timing alone does not guarantee movement when the data line up with subdued trading conditions.
Price action confirmed the low impact. Bitcoin stood at $50,269.64 at 8:30 AM and traded 0.38 percent lower fifteen minutes later and 0.59 percent lower after one hour. Its hourly high-low range narrowed to 1.7 percent from 2.01 percent in the preceding hour.
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
49,711.83Close
49,743.4124h Change
31.58 (0.06%)24h High
51,367.1924h Low
47,000.0024h Volume
137,486 BTCUS Producer Price Index
Bureau of Labor Statistics
13th May, 2021, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 50188.83 | 50322.54 | 50187.01 | 50272.15 | 0.17% | 0.27% | 72 BTC |
| During | 50269.64 | 50272.13 | 50123.46 | 50137.43 | -0.26% | 0.30% | 64 BTC |
| 5 Minutes | |||||||
| Before | 50294.59 | 50322.54 | 50115.11 | 50272.15 | -0.04% | 0.41% | 365 BTC |
| During | 50269.64 | 50275.44 | 50078.00 | 50199.99 | -0.14% | 0.39% | 302 BTC |
| 10 Minutes | |||||||
| Before | 50249.22 | 50400.00 | 50115.11 | 50272.15 | 0.05% | 0.57% | 847 BTC |
| During | 50269.64 | 50275.44 | 49944.92 | 49973.65 | -0.59% | 0.66% | 740 BTC |
| 15 Minutes | |||||||
| Before | 50066.61 | 50400.00 | 50008.57 | 50272.15 | 0.41% | 0.78% | 1,428 BTC |
| During | 50269.64 | 50275.44 | 49944.92 | 50078.10 | -0.38% | 0.66% | 1,012 BTC |
| 30 Minutes | |||||||
| Before | 49777.01 | 50400.00 | 49528.46 | 50272.15 | 0.98% | 1.73% | 2,713 BTC |
| During | 50269.64 | 50320.00 | 49920.68 | 50158.05 | -0.22% | 0.79% | 1,876 BTC |
| 1 Hour | |||||||
| Before | 49422.43 | 50400.00 | 49392.06 | 50272.15 | 1.69% | 2.00% | 5,072 BTC |
| During | 50269.64 | 50448.16 | 49594.00 | 49970.60 | -0.60% | 1.69% | 4,044 BTC |
| 2 Hours | |||||||
| Before | 49692.84 | 50400.00 | 48457.12 | 50272.15 | 1.15% | 3.85% | 12,818 BTC |
| During | 50269.64 | 50884.34 | 49594.00 | 50521.88 | 0.50% | 2.54% | 7,773 BTC |
| 4 Hours | |||||||
| Before | 50478.70 | 50674.99 | 48457.12 | 50272.15 | -0.41% | 4.38% | 28,583 BTC |
| During | 50269.64 | 50884.34 | 49458.68 | 50301.61 | 0.06% | 2.80% | 17,113 BTC |
| 6 Hours | |||||||
| Before | 50845.04 | 51367.19 | 48457.12 | 50272.15 | -1.14% | 5.67% | 36,562 BTC |
| During | 50269.64 | 50884.34 | 47000.00 | 48426.84 | -3.81% | 7.63% | 35,253 BTC |
| 8 Hours | |||||||
| Before | 49711.83 | 51367.19 | 49305.43 | 50476.23 | 1.51% | 4.01% | 48,830 BTC |
| During | 50478.70 | 50884.34 | 48457.12 | 50301.61 | -0.35% | 4.77% | 45,696 BTC |
| 12 Hours | |||||||
| Before | 49711.83 | 51367.19 | 48457.12 | 50272.15 | 1.11% | 5.67% | 77,413 BTC |
| During | 50269.64 | 50884.34 | 47000.00 | 49743.41 | -1.06% | 7.63% | 60,073 BTC |
