TAO Volatility Analysis for CPI, 11th December 2024

Data Analysis

The data released by Bureau of Labor Statistics for Consumer Price Index on 11th December, 2024 has come in at a decrease to -0.1% for November 2024. Compared to the previous release for October 2024 at 0.1%, we can see that prices & inflation is still decreasing 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 18,816 TAO with prices swinging between 575.30 and 591.70, representing a swing of 2.77%. Subsequently, the trading volume increased significantly by 134% to 44,021 TAO. Price action ranged from a low of 586.90 to a high of 619.90, a significant difference of 5.32%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 1,983 TAO in trading volume was observed prior to the data release. Prices ranged between a low of 583.10 to a high of 588.60, a 0.93% change. Immediately following, trading volume increased significantly by 363% to 9,187 TAO. At this time, Bittensor hit a low of 586.90 with a high of 601.80, a significant change of 2.48%.

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).