Shaurya Mahajan
Shaurya Mahajan 3 minutes reading from Bitcoin

Caution: Candle Range Drops 50% from Last Year

BTC 1 min Candle Range during different time periods.

Data = BTCUSDT Spot Binance Jan 1, 2018 to Sept 8, 2022

After removing na values, 2,471,672 million mins total

Overall / By Year

There is a lot of Variance. Candle Range has dropped nearly 50% from last year

By Minute of hour

Big Volatility spikes in 1st minute of each Hr and each new 30 min & 15 min candles. Small spikes even in the 1st minute of each new 5 minute candle.

By Hour of Day

dOpen, dClose and around 3 pm UTC are the most volatile periods of the day.

There is relatively lesser volatility b/w 2-7 AM .

By Day of Week

Volatility drops by roughly 20% on the Weekends.

By Day of Month

Idk what to interpret from this or why the Mean / Median Charts look so different.

By Month of Year

Seems like Vol is high around Year open and then keeps decreasing.

This post is based on this twitter thread.


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