Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 5th December, 2024 has come in at an increase to -$74.3B for October 2024. Compared to the previous release for September 2024 at -$81.5B, 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 7,168 BTC with prices swinging between 102,237.79 and 103,295.99, representing a swing of 1.02%. Subsequently, the trading volume increased significantly by 148% to 17,793 BTC. Price action ranged from a low of 100,533.41 to a high of 103,550.00, a significant difference of 2.91%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 475 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 102,973.29 to a high of 103,250.00, a 0.27% change. Immediately following, trading volume decreased by 20% to 381 BTC. At this time, Bitcoin hit a low of 102,889.99 with a high of 103,247.40, a change of 0.35%.
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
98,382.85Close
97,890.9324h Change
-491.92 (-0.50%)24h High
104,088.0024h Low
90,500.0024h Volume
111,564 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
5th December, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 103141.89 | 103141.90 | 103060.00 | 103060.00 | -0.08% | 0.08% | 16 BTC |
| During | 103060.01 | 103179.16 | 103042.57 | 103166.66 | 0.10% | 0.13% | 37 BTC |
| 5 Minutes | |||||||
| Before | 103112.00 | 103144.00 | 103036.01 | 103060.00 | -0.05% | 0.10% | 171 BTC |
| During | 103060.01 | 103247.40 | 103042.57 | 103247.39 | 0.18% | 0.20% | 107 BTC |
| 10 Minutes | |||||||
| Before | 103220.23 | 103250.00 | 103036.01 | 103060.00 | -0.16% | 0.21% | 272 BTC |
| During | 103060.01 | 103247.40 | 102938.15 | 103060.01 | 0.00% | 0.30% | 247 BTC |
| 15 Minutes | |||||||
| Before | 103008.05 | 103250.00 | 102973.29 | 103060.00 | 0.05% | 0.27% | 475 BTC |
| During | 103060.01 | 103247.40 | 102889.99 | 102889.99 | -0.17% | 0.35% | 381 BTC |
| 30 Minutes | |||||||
| Before | 102846.16 | 103250.00 | 102684.73 | 103060.00 | 0.21% | 0.55% | 1,055 BTC |
| During | 103060.01 | 103247.40 | 102748.69 | 102753.90 | -0.30% | 0.48% | 797 BTC |
| 1 Hour | |||||||
| Before | 102822.21 | 103295.99 | 102504.01 | 103060.00 | 0.23% | 0.77% | 2,417 BTC |
| During | 103060.01 | 103247.40 | 102280.00 | 102610.61 | -0.44% | 0.94% | 1,711 BTC |
| 2 Hours | |||||||
| Before | 102391.97 | 103295.99 | 102280.01 | 103060.00 | 0.65% | 0.98% | 3,975 BTC |
| During | 103060.01 | 103550.00 | 101605.72 | 102097.78 | -0.94% | 1.88% | 7,964 BTC |
| 4 Hours | |||||||
| Before | 102792.05 | 103295.99 | 102237.79 | 103060.00 | 0.26% | 1.02% | 7,168 BTC |
| During | 103060.01 | 103550.00 | 100533.41 | 100803.99 | -2.24% | 2.91% | 17,793 BTC |
| 6 Hours | |||||||
| Before | 102098.41 | 103295.99 | 102098.41 | 103060.00 | 0.93% | 1.16% | 13,370 BTC |
| During | 103060.01 | 103550.00 | 100055.00 | 100568.89 | -2.48% | 3.38% | 23,966 BTC |
| 8 Hours | |||||||
| Before | 98382.85 | 104088.00 | 98047.58 | 102792.05 | 4.29% | 5.80% | 46,566 BTC |
| During | 102792.05 | 103550.00 | 100533.41 | 100803.99 | -1.97% | 2.91% | 24,961 BTC |
| 12 Hours | |||||||
| Before | 98382.85 | 104088.00 | 98047.58 | 103060.00 | 4.54% | 5.80% | 53,733 BTC |
| During | 103060.01 | 103550.00 | 90500.00 | 97890.93 | -5.28% | 12.60% | 57,831 BTC |
