TAO Volatility Analysis for CPI, 12th June 2024

Data Analysis

The data released by Bureau of Labor Statistics for Consumer Price Index on 12th June, 2024 has come in at a decrease to 0.2% for May 2024. Compared to the previous release for April 2024 at 0.4%, we can see that prices & inflation is still increasing but slowed month over month.

To see the impact and volatility of TAO's price during the CPI 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 15,796 TAO with prices swinging between 328.80 and 344.50, representing a swing of 4.56%. Subsequently, the trading volume increased significantly by 123% to 35,150 TAO. Price action ranged from a low of 343.30 to a high of 372.20, a significant difference of 7.76%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 1,867 TAO in trading volume was observed prior to the data release. Prices ranged between a low of 339.20 to a high of 344.50, a 1.54% change. Immediately following, trading volume increased significantly by 397% to 9,272 TAO. At this time, Bittensor hit a low of 343.30 with a high of 359.10, a significant change of 4.40%.

About Consumer Price Index

The Consumer Price Index (CPI) measures the monthly change in prices paid by U.S. consumers. The Bureau of Labor Statistics (BLS) calculates the CPI as a weighted average of prices for a basket of goods and services representative of aggregate U.S. consumer spending. The CPI is one of the most popular measures of inflation and deflation. The index is published monthly by the U.S. Bureau of Labor Statistics (BLS).