Data Analysis
The release
Released by the Federal Open Market Committee on 13 December 2023 at 2:00 PM EST. The Federal Open Market Committee held its target range for the federal funds rate at 5.25–5.50%.
How Ethereum moved
Ethereum was at $2,216.85 when the figure came out. Fifteen minutes later it was 0.8% higher, and an hour later 1.63% higher. Its high-to-low range in the hour after was 1.73% of its price, against 0.58% in the hour before.
Measured by Clometrix
Ethereum's volatility ratio was 3.47x, against 4.18x for a typical Fed Interest Rate release since 2021. Its volume ratio was 4.55x, against a typical 7.50x. That is about what this release usually does. Both compare the quarter hour of the release with an ordinary quarter hour that same day, where 1.00x is no change: volatility is how far the price ranged, volume how much traded.
What made it matter
Since 2021, Fed decisions that changed the rate have moved Ethereum more than those that held it: a median volatility ratio of 5.50x across 18, against 3.49x across 28. This one held it. Its own ratio of 3.47x compares with 3.49x for those, about what its circumstances would suggest.
Its record
Across 46 Fed Interest Rate releases since 2021, Ethereum's median volatility ratio is 4.18x.
What it means
Ordinary Response to a Steady Policy Rate
The price stood at $2,216.85 at the moment of the announcement, then rose 0.8 percent within fifteen minutes and 1.63 percent within the hour. Its high-to-low range expanded to 1.73 percent of spot in the first hour, compared with 0.58 percent beforehand.
The measured reaction aligned with the record for policy holds. Ethereum recorded a volatility ratio of 3.47 times its normal quarter-hour range, near the 3.49 times median observed across twenty-eight prior holds since 2021 and below the 4.18 times median across all forty-six Fed decisions in the sample. Volume expanded 4.55 times, also short of the 7.50 times typical for the event.
Clometrix therefore classifies the move as ordinary for this release type. The outcome matched the lower sensitivity that has accompanied unchanged rates rather than any departure from that pattern.
About Federal Reserve Interest Rate Decision
The Federal Open Market Committee (FOMC) has eight regularly scheduled meetings each year, but they can meet more often if the need should arise. The meetings are not held in public and are therefore the subject of much speculation on Wall Street, as analysts attempt to predict whether the Fed will tighten or loosen the money supply with a resulting increase or decrease in interest rates.
Disclaimer
The data analysis, forecasted results and projections provided herein are based on historical price action and market trends. While every effort has been made to ensure the accuracy of the information, these predictions are speculative and should not be considered a guarantee of future performance. Market conditions can change rapidly, and past performance is not indicative of future results. Trading and investing involve significant risk, and you should conduct your own research and consult with a licensed financial advisor before making any investment decisions. We do not assume any liability for any losses that may result from reliance on this information.
ETH-USDT
Ethereum
Open
2,154.15Close
2,279.1524h Change
125.00 (5.48%)24h High
2,284.0224h Low
2,148.6524h Volume
360,374 ETHUS Federal Reserve Interest Rate Decision
Federal Open Market Committee
13th December, 2023, 2:00PM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 2217.82 | 2219.00 | 2216.10 | 2216.85 | -0.04% | 0.13% | 282 ETH |
| During | 2216.85 | 2224.73 | 2216.84 | 2224.73 | 0.35% | 0.35% | 846 ETH |
| 5 Minutes | |||||||
| Before | 2220.24 | 2220.42 | 2216.10 | 2216.85 | -0.15% | 0.19% | 933 ETH |
| During | 2216.85 | 2231.00 | 2216.84 | 2230.26 | 0.60% | 0.63% | 5,541 ETH |
| 10 Minutes | |||||||
| Before | 2220.56 | 2220.58 | 2216.10 | 2216.85 | -0.17% | 0.20% | 2,338 ETH |
| During | 2216.85 | 2236.82 | 2216.84 | 2230.97 | 0.63% | 0.89% | 10,396 ETH |
| 15 Minutes | |||||||
| Before | 2218.90 | 2221.59 | 2216.10 | 2216.85 | -0.09% | 0.25% | 3,230 ETH |
| During | 2216.85 | 2239.40 | 2216.84 | 2234.49 | 0.79% | 1.01% | 13,063 ETH |
| 30 Minutes | |||||||
| Before | 2211.50 | 2221.59 | 2210.57 | 2216.85 | 0.24% | 0.50% | 5,678 ETH |
| During | 2216.85 | 2239.40 | 2216.84 | 2235.29 | 0.82% | 1.01% | 17,360 ETH |
| 1 Hour | |||||||
| Before | 2213.73 | 2221.59 | 2208.80 | 2216.85 | 0.14% | 0.58% | 10,528 ETH |
| During | 2216.85 | 2255.20 | 2216.84 | 2253.03 | 1.61% | 1.70% | 36,869 ETH |
| 2 Hours | |||||||
| Before | 2205.25 | 2221.59 | 2202.36 | 2216.85 | 0.52% | 0.87% | 22,258 ETH |
| During | 2216.85 | 2262.81 | 2216.84 | 2258.76 | 1.86% | 2.03% | 58,168 ETH |
| 4 Hours | |||||||
| Before | 2188.58 | 2228.00 | 2188.58 | 2216.85 | 1.28% | 1.77% | 75,798 ETH |
| During | 2216.85 | 2284.02 | 2216.84 | 2260.69 | 1.94% | 2.94% | 95,078 ETH |
| 6 Hours | |||||||
| Before | 2182.49 | 2228.00 | 2180.50 | 2216.85 | 1.55% | 2.13% | 102,647 ETH |
| During | 2216.85 | 2284.02 | 2216.84 | 2258.97 | 1.86% | 2.94% | 115,670 ETH |
| 8 Hours | |||||||
| Before | 2154.15 | 2195.27 | 2148.65 | 2188.59 | 1.57% | 2.12% | 103,140 ETH |
| During | 2188.58 | 2284.02 | 2188.58 | 2260.69 | 3.19% | 4.18% | 170,876 ETH |
| 12 Hours | |||||||
| Before | 2154.15 | 2228.00 | 2148.65 | 2216.85 | 2.83% | 3.56% | 178,939 ETH |
| During | 2216.85 | 2284.02 | 2216.84 | 2279.15 | 2.73% | 2.94% | 181,435 ETH |
