Data Analysis
The release
Released by the Bureau of Labor Statistics on 12 July 2024 at 8:30 AM EDT. The Producer Price Index came in at 0.4% for June 2024, against 0.0% in May 2024. 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.
How Bitcoin moved
Bitcoin was at $57,440.00 when the figure came out. Fifteen minutes later it was 0.41% lower, and an hour later 0.17% higher. Its high-to-low range in the hour after was 1.39% of its price, against 0.7% in the hour before.
Measured by Clometrix
Bitcoin's volatility ratio was 2.25x, against 2.08x for a typical PPI release since 2021. Its volume ratio was 4.08x, 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 2.25x 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.
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
57,488.00Close
57,818.8624h Change
330.86 (0.57%)24h High
58,526.6824h Low
56,542.4724h Volume
23,492 BTCUS Producer Price Index
Bureau of Labor Statistics
12th July, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 57452.17 | 57454.61 | 57412.67 | 57440.00 | -0.02% | 0.07% | 12 BTC |
| During | 57440.00 | 57443.67 | 57000.00 | 57143.60 | -0.52% | 0.77% | 407 BTC |
| 5 Minutes | |||||||
| Before | 57406.00 | 57479.51 | 57375.74 | 57440.00 | 0.06% | 0.18% | 84 BTC |
| During | 57440.00 | 57443.67 | 57000.00 | 57234.99 | -0.36% | 0.77% | 564 BTC |
| 10 Minutes | |||||||
| Before | 57279.85 | 57479.51 | 57274.50 | 57440.00 | 0.28% | 0.36% | 161 BTC |
| During | 57440.00 | 57443.67 | 57000.00 | 57147.99 | -0.51% | 0.77% | 731 BTC |
| 15 Minutes | |||||||
| Before | 57280.67 | 57479.51 | 57200.00 | 57440.00 | 0.28% | 0.49% | 267 BTC |
| During | 57440.00 | 57443.67 | 57000.00 | 57203.99 | -0.41% | 0.77% | 803 BTC |
| 30 Minutes | |||||||
| Before | 57203.54 | 57479.51 | 57200.00 | 57440.00 | 0.41% | 0.49% | 696 BTC |
| During | 57440.00 | 57443.67 | 57000.00 | 57382.30 | -0.10% | 0.77% | 1,069 BTC |
| 1 Hour | |||||||
| Before | 57248.53 | 57479.51 | 57078.00 | 57440.00 | 0.33% | 0.70% | 1,121 BTC |
| During | 57440.00 | 57799.00 | 57000.00 | 57540.00 | 0.17% | 1.38% | 2,137 BTC |
| 2 Hours | |||||||
| Before | 56945.21 | 57479.51 | 56944.91 | 57440.00 | 0.86% | 0.93% | 1,993 BTC |
| During | 57440.00 | 58006.79 | 57000.00 | 57937.75 | 0.86% | 1.74% | 3,755 BTC |
| 4 Hours | |||||||
| Before | 57155.89 | 57479.51 | 56767.05 | 57440.00 | 0.49% | 1.24% | 3,356 BTC |
| During | 57440.00 | 58278.00 | 57000.00 | 58230.86 | 1.36% | 2.19% | 6,783 BTC |
| 6 Hours | |||||||
| Before | 57326.01 | 57479.51 | 56767.05 | 57440.00 | 0.20% | 1.24% | 5,334 BTC |
| During | 57440.00 | 58428.91 | 57000.00 | 58139.80 | 1.20% | 2.45% | 8,557 BTC |
| 8 Hours | |||||||
| Before | 57488.00 | 57571.86 | 56542.47 | 57155.88 | -0.58% | 1.79% | 6,778 BTC |
| During | 57155.89 | 58278.00 | 56767.05 | 58230.86 | 1.85% | 2.59% | 10,138 BTC |
| 12 Hours | |||||||
| Before | 57488.00 | 57571.86 | 56542.47 | 57440.00 | -0.08% | 1.79% | 10,133 BTC |
| During | 57440.00 | 58526.68 | 57000.00 | 57818.86 | 0.66% | 2.61% | 13,359 BTC |
