BTC Volatility Analysis for CPI, 11th May 2022

Data Analysis

The data released by Bureau of Labor Statistics for Consumer Price Index on 11th May, 2022 has come in at a decrease to 0.6% for April 2022. Compared to the previous release for March 2022 at 1.3%, we can see that prices & inflation is still increasing but slowed month over month.

To see the impact and volatility of BTC'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 25,838 BTC with prices swinging between 30,636.33 and 32,162.59, representing a swing of 4.75%. Subsequently, the trading volume increased significantly by 212% to 80,727 BTC. Price action ranged from a low of 29,039.54 to a high of 32,000.00, a significant difference of 9.25%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 1,370 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 31,380.00 to a high of 31,758.46, a 1.19% change. Immediately following, trading volume increased significantly by 766% to 11,862 BTC. At this time, Bitcoin hit a low of 30,020.00 with a high of 31,572.43, a significant change of 4.92%.

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).