Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 8th October, 2024 has come in at an increase to -$71.2B for August 2024. Compared to the previous release for July 2024 at -$78.6B, we can see that foreign trade has decreased but at a slower rate month over month.
To see the impact and volatility of BTC's price during the Balance of Trade release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.
4-Hours Chart Analysis
In the period prior to the release, the trading volume was 1,955 BTC with prices swinging between 62,301.14 and 62,670.16, representing a swing of 0.59%. Subsequently, the trading volume increased significantly by 273% to 7,284 BTC. Price action ranged from a low of 61,864.89 to a high of 63,200.00, a significant difference of 2.11%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 122 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 62,519.90 to a high of 62,600.00, a 0.13% change. Immediately following, trading volume increased by 25% to 152 BTC. At this time, Bitcoin hit a low of 62,427.15 with a high of 62,623.29, a significant change of 0.31%.
About International Trade Balance in Goods and Services
The balance of trade (BOT) measures economic transactions between a nation and its trading partners, showing the difference between the value of a country's imports and exports for a given period. The BEA and Census Bureau reports on the U.S. balance of payments (BOP), covering goods and services that move in and out of the country. Economists use this information to gauge the relative strength of a country's economy. When exports are higher than imports, it tends to boost GDP. In the opposite scenario, it creates a trade deficit.
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
62,388.00Close
62,232.0024h Change
-156.00 (-0.25%)24h High
63,200.0024h Low
61,860.3124h Volume
19,470 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
8th October, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 62589.99 | 62590.00 | 62586.00 | 62588.00 | 0.00% | 0.01% | 12 BTC |
| During | 62588.00 | 62606.00 | 62580.00 | 62605.99 | 0.03% | 0.04% | 10 BTC |
| 5 Minutes | |||||||
| Before | 62569.86 | 62600.00 | 62549.25 | 62588.00 | 0.03% | 0.08% | 63 BTC |
| During | 62588.00 | 62606.00 | 62565.27 | 62580.00 | -0.01% | 0.07% | 22 BTC |
| 10 Minutes | |||||||
| Before | 62540.35 | 62600.00 | 62519.90 | 62588.00 | 0.08% | 0.13% | 97 BTC |
| During | 62588.00 | 62623.29 | 62524.00 | 62534.15 | -0.09% | 0.16% | 49 BTC |
| 15 Minutes | |||||||
| Before | 62550.02 | 62600.00 | 62519.90 | 62588.00 | 0.06% | 0.13% | 122 BTC |
| During | 62588.00 | 62623.29 | 62427.15 | 62460.00 | -0.20% | 0.31% | 152 BTC |
| 30 Minutes | |||||||
| Before | 62624.02 | 62670.00 | 62519.90 | 62588.00 | -0.06% | 0.24% | 219 BTC |
| During | 62588.00 | 62623.29 | 62427.15 | 62440.00 | -0.24% | 0.31% | 245 BTC |
| 1 Hour | |||||||
| Before | 62489.06 | 62670.16 | 62484.89 | 62588.00 | 0.16% | 0.30% | 521 BTC |
| During | 62588.00 | 62689.08 | 62326.52 | 62610.00 | 0.04% | 0.58% | 832 BTC |
| 2 Hours | |||||||
| Before | 62474.98 | 62670.16 | 62410.82 | 62588.00 | 0.18% | 0.41% | 897 BTC |
| During | 62588.00 | 63200.00 | 62326.52 | 62368.01 | -0.35% | 1.38% | 2,863 BTC |
| 4 Hours | |||||||
| Before | 62356.56 | 62670.16 | 62301.14 | 62588.00 | 0.37% | 0.59% | 1,955 BTC |
| During | 62588.00 | 63200.00 | 61864.89 | 62356.30 | -0.37% | 2.11% | 7,284 BTC |
| 6 Hours | |||||||
| Before | 62259.99 | 62670.16 | 62005.00 | 62588.00 | 0.52% | 1.06% | 3,406 BTC |
| During | 62588.00 | 63200.00 | 61864.89 | 62196.01 | -0.63% | 2.11% | 8,885 BTC |
| 8 Hours | |||||||
| Before | 62388.00 | 62820.00 | 62005.00 | 62356.57 | -0.05% | 1.30% | 5,271 BTC |
| During | 62356.56 | 63200.00 | 61864.89 | 62356.30 | 0.00% | 2.11% | 9,239 BTC |
| 12 Hours | |||||||
| Before | 62388.00 | 62820.00 | 62005.00 | 62588.00 | 0.32% | 1.30% | 7,226 BTC |
| During | 62588.00 | 63200.00 | 61860.31 | 62232.00 | -0.57% | 2.12% | 12,244 BTC |
