Data Analysis
The release
Released by the Federal Open Market Committee on 17 March 2021 at 2:00 PM EDT. The Federal Open Market Committee held its target range for the federal funds rate at 0.00–0.25%.
How Ethereum moved
Ethereum was at $1,788.93 when the figure came out. Fifteen minutes later it was 0.79% higher, and an hour later 1.82% higher. Its high-to-low range in the hour after was 2.02% of its price, against 0.63% in the hour before.
Measured by Clometrix
Ethereum's volatility ratio was 2.09x, against 4.18x for a typical Fed Interest Rate release since 2021. Its volume ratio was 2.31x, against a typical 7.50x. That is a muted reaction by this release's own standard. 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 2.09x compares with 3.49x for those, so it moved the price less than 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
Ethereum registered a muted reaction to the Federal Open Market Committee's decision to maintain the federal funds rate target range at 0.00 to 0.25 percent. The cryptocurrency stood at $1,788.93 at the 2:00 PM EDT release. It advanced 0.79 percent within fifteen minutes and 1.82 percent after one hour. The hourly high to low range reached 2.02 percent of the price, compared with 0.63 percent beforehand.
Clometrix data placed the volatility ratio at 2.09 times normal levels for the quarter hour of the release, well below the 4.18 times median across all 46 Fed Interest Rate decisions since 2021. Volume expanded by a factor of 2.31 times against a typical 7.50 times. This outcome fell short even of the 3.49 times median recorded for prior decisions that left rates unchanged.
Decisions that altered the target range have produced larger moves, with a 5.50 times median volatility ratio across 18 instances. The March 2021 hold therefore aligned with the pattern of reduced sensitivity when policy remains on hold, yet delivered an even smaller deviation than that subgroup's history would indicate.
Traders observing future rate decisions may note that unchanged settings have coincided with subdued volatility responses for Ethereum relative to the event's overall record.
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
1,778.55Close
1,830.5024h Change
51.95 (2.84%)24h High
1,850.0024h Low
1,741.1824h Volume
675,150 ETHUS Federal Reserve Interest Rate Decision
Federal Open Market Committee
17th March, 2021, 2:00PM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 1789.13 | 1789.17 | 1788.00 | 1788.93 | -0.01% | 0.07% | 206 ETH |
| During | 1788.93 | 1797.79 | 1788.93 | 1797.57 | 0.48% | 0.49% | 1,774 ETH |
| 5 Minutes | |||||||
| Before | 1789.92 | 1790.09 | 1785.37 | 1788.93 | -0.06% | 0.26% | 1,675 ETH |
| During | 1788.93 | 1802.00 | 1788.93 | 1799.99 | 0.61% | 0.73% | 7,712 ETH |
| 10 Minutes | |||||||
| Before | 1792.10 | 1792.48 | 1785.37 | 1788.93 | -0.18% | 0.40% | 2,661 ETH |
| During | 1788.93 | 1802.52 | 1788.93 | 1801.66 | 0.71% | 0.75% | 10,475 ETH |
| 15 Minutes | |||||||
| Before | 1790.86 | 1792.48 | 1785.37 | 1788.93 | -0.11% | 0.40% | 4,851 ETH |
| During | 1788.93 | 1808.44 | 1788.93 | 1803.02 | 0.78% | 1.08% | 14,269 ETH |
| 30 Minutes | |||||||
| Before | 1788.90 | 1794.30 | 1783.02 | 1788.93 | 0.00% | 0.63% | 11,126 ETH |
| During | 1788.93 | 1817.23 | 1788.93 | 1806.96 | 1.00% | 1.56% | 24,941 ETH |
| 1 Hour | |||||||
| Before | 1785.26 | 1794.30 | 1783.02 | 1788.93 | 0.21% | 0.63% | 18,515 ETH |
| During | 1788.93 | 1825.00 | 1788.93 | 1821.44 | 1.78% | 1.98% | 51,519 ETH |
| 2 Hours | |||||||
| Before | 1772.78 | 1794.34 | 1767.19 | 1788.93 | 0.90% | 1.51% | 43,619 ETH |
| During | 1788.93 | 1838.79 | 1788.93 | 1827.36 | 2.10% | 2.71% | 92,943 ETH |
| 4 Hours | |||||||
| Before | 1768.69 | 1794.34 | 1758.38 | 1788.93 | 1.13% | 2.00% | 107,389 ETH |
| During | 1788.93 | 1838.88 | 1788.93 | 1821.39 | 1.78% | 2.72% | 157,343 ETH |
| 6 Hours | |||||||
| Before | 1759.71 | 1794.34 | 1741.18 | 1788.93 | 1.63% | 2.96% | 167,414 ETH |
| During | 1788.93 | 1838.88 | 1788.93 | 1823.58 | 1.90% | 2.72% | 216,147 ETH |
| 8 Hours | |||||||
| Before | 1778.55 | 1794.96 | 1741.18 | 1768.88 | -0.55% | 3.00% | 200,492 ETH |
| During | 1768.69 | 1838.88 | 1758.38 | 1821.39 | 2.89% | 4.38% | 264,732 ETH |
| 12 Hours | |||||||
| Before | 1778.55 | 1794.96 | 1741.18 | 1788.93 | 0.58% | 3.00% | 307,881 ETH |
| During | 1788.93 | 1850.00 | 1788.93 | 1830.50 | 2.27% | 3.30% | 367,269 ETH |
