TAO Volatility Analysis for CPI, 15th May 2024

Data Analysis

The data released by Bureau of Labor Statistics for Consumer Price Index on 15th May, 2024 has come in at a decrease to 0.4% for April 2024. Compared to the previous release for March 2024 at 0.6%, 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 10,338 TAO with prices swinging between 343.60 and 365.00, representing a swing of 5.86%. Subsequently, the trading volume increased significantly by 207% to 31,779 TAO. Price action ranged from a low of 364.10 to a high of 392.00, a difference of 7.12%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 1,364 TAO in trading volume was observed prior to the data release. Prices ranged between a low of 359.30 to a high of 365.00, a 1.56% change. Immediately following, trading volume increased significantly by 405% to 6,889 TAO. At this time, Bittensor hit a low of 364.10 with a high of 388.00, a significant change of 6.16%.

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).