Data Analysis
Measured by Clometrix
Bitcoin's volatility ratio was 1.58x, against 1.10x for a typical Balance of Trade release since 2021. Its volume ratio was 1.27x, against a typical 1.22x. That is a strong reaction by this release's own standard. 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 $55,461.02 when the figure came out. Fifteen minutes later it was 0.97% lower, and an hour later 0.56% lower. Its high-to-low range in the hour after was 1.98% of its price, against 0.74% in the hour before.
The release
Released by the Bureau of Census, Bureau of Economic Analysis on 6 August 2024 at 8:30 AM EDT. The deficit narrowed to $73.9B for June 2024, from $74.5B (The International Trade Balance in Goods and Services).
It arrived at the same moment as International Imports in Goods and Services and International Exports in Goods and Services, so the reaction measured on this page belongs to all of them together.
What made it matter
Since 2021, Balance of Trade releases in the two weeks before a Fed decision have moved Bitcoin less than those at other times: a median volatility ratio of 0.97x across 23, against 1.25x across 47. This one was not within two weeks of a Fed decision. Its own ratio of 1.58x compares with 1.25x for those, so it moved the price more than its circumstances alone would suggest.
Its record
Across 70 Balance of Trade releases since 2021, Bitcoin's median volatility ratio is 1.10x.
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
55,625.55Close
55,948.0124h Change
322.46 (0.58%)24h High
57,040.9924h Low
54,371.9424h Volume
54,679 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
6th August, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 55394.01 | 55461.02 | 55394.00 | 55461.01 | 0.12% | 0.12% | 21 BTC |
| During | 55461.02 | 55468.00 | 55329.13 | 55349.99 | -0.20% | 0.25% | 59 BTC |
| 5 Minutes | |||||||
| Before | 55351.99 | 55461.02 | 55288.01 | 55461.01 | 0.20% | 0.31% | 118 BTC |
| During | 55461.02 | 55468.00 | 55130.00 | 55150.00 | -0.56% | 0.61% | 156 BTC |
| 10 Minutes | |||||||
| Before | 55370.00 | 55461.02 | 55288.01 | 55461.01 | 0.16% | 0.31% | 211 BTC |
| During | 55461.02 | 55468.00 | 54924.44 | 55012.00 | -0.82% | 0.98% | 439 BTC |
| 15 Minutes | |||||||
| Before | 55300.00 | 55461.02 | 55180.00 | 55461.01 | 0.29% | 0.51% | 327 BTC |
| During | 55461.02 | 55468.00 | 54921.50 | 54921.50 | -0.98% | 0.99% | 629 BTC |
| 30 Minutes | |||||||
| Before | 55210.00 | 55461.02 | 55090.00 | 55461.01 | 0.45% | 0.67% | 737 BTC |
| During | 55461.02 | 55468.00 | 54677.49 | 54772.01 | -1.26% | 1.43% | 1,403 BTC |
| 1 Hour | |||||||
| Before | 55054.03 | 55461.02 | 55048.00 | 55461.01 | 0.73% | 0.74% | 1,610 BTC |
| During | 55461.02 | 55468.00 | 54371.94 | 55152.01 | -0.56% | 1.98% | 2,630 BTC |
| 2 Hours | |||||||
| Before | 55211.99 | 55461.02 | 54868.36 | 55461.01 | 0.45% | 1.07% | 3,066 BTC |
| During | 55461.02 | 56588.00 | 54371.94 | 56187.19 | 1.29% | 3.92% | 8,927 BTC |
| 4 Hours | |||||||
| Before | 55422.01 | 55508.00 | 54600.01 | 55461.01 | 0.07% | 1.64% | 8,473 BTC |
| During | 55461.02 | 56769.00 | 54371.94 | 56358.00 | 1.59% | 4.22% | 14,573 BTC |
| 6 Hours | |||||||
| Before | 55832.92 | 56169.48 | 54600.01 | 55461.01 | -0.67% | 2.79% | 13,342 BTC |
| During | 55461.02 | 57040.99 | 54371.94 | 56883.94 | 2.50% | 4.68% | 19,635 BTC |
| 8 Hours | |||||||
| Before | 55625.55 | 56276.00 | 55255.00 | 55422.01 | -0.37% | 1.81% | 17,636 BTC |
| During | 55422.01 | 56769.00 | 54371.94 | 56358.00 | 1.66% | 4.22% | 23,046 BTC |
| 12 Hours | |||||||
| Before | 55625.55 | 56276.00 | 54600.01 | 55461.01 | -0.30% | 2.98% | 26,109 BTC |
| During | 55461.02 | 57040.99 | 54371.94 | 55948.01 | 0.87% | 4.68% | 28,570 BTC |
