Data Analysis
Measured by Clometrix
Ethereum's volatility ratio was 7.80x, against 4.18x for a typical Fed Interest Rate release since 2021. Its volume ratio was 10.27x, against a typical 7.50x. That is a strong 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.
How Ethereum moved
Ethereum was at $1,743.45 when the figure came out. Fifteen minutes later it was 0.63% lower, and an hour later 0.56% lower. Its high-to-low range in the hour after was 1.57% of its price, against 0.78% in the hour before.
The release
Released by the Federal Open Market Committee on 14 June 2023 at 2:00 PM EDT. The Federal Open Market Committee held its target range for the federal funds rate at 5.00–5.25%.
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 7.80x compares with 3.49x for those, so it moved the price more than its circumstances alone would suggest.
Its record
Across 46 Fed Interest Rate releases since 2021, Ethereum's median volatility ratio is 4.18x.
What it means
Strong Reaction to an Unchanged Decision
Ethereum posted a volatility ratio of 7.80x around the 14 June 2023 Federal Reserve interest rate decision, more than double the 4.18x median recorded across 46 such releases since 2021. Volume reached 10.27x its ordinary level for the quarter hour. The price opened at $1,743.45, declined 0.63 percent within fifteen minutes and 0.56 percent after one hour, while the hourly high-to-low range widened to 1.57 percent from 0.78 percent beforehand.
The Federal Open Market Committee left the target range at 5.00 to 5.25 percent. Releases that hold the rate have produced a median volatility ratio of only 3.49x across 28 instances since 2021, compared with 5.50x when the rate changed. This release nevertheless exceeded even the median for rate changes, earning a strong classification.
Traders reviewing the record may observe that unchanged decisions accompanied by updated projections can still generate outsized movement relative to the event's typical response, though the data supply no basis for projecting similar magnitude at the next release of this type.
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
1,738.57Close
1,647.5024h Change
-91.07 (-5.53%)24h High
1,750.0324h Low
1,630.4324h Volume
455,519 ETHUS Federal Reserve Interest Rate Decision
Federal Open Market Committee
14th June, 2023, 2:00PM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 1743.35 | 1743.51 | 1740.13 | 1743.46 | 0.01% | 0.19% | 836 ETH |
| During | 1743.45 | 1747.31 | 1736.79 | 1741.28 | -0.12% | 0.60% | 4,722 ETH |
| 5 Minutes | |||||||
| Before | 1740.65 | 1745.00 | 1738.82 | 1743.46 | 0.16% | 0.35% | 2,716 ETH |
| During | 1743.45 | 1747.31 | 1730.62 | 1734.37 | -0.52% | 0.96% | 10,601 ETH |
| 10 Minutes | |||||||
| Before | 1737.80 | 1745.00 | 1737.56 | 1743.46 | 0.32% | 0.43% | 4,151 ETH |
| During | 1743.45 | 1747.31 | 1720.01 | 1733.07 | -0.60% | 1.56% | 20,072 ETH |
| 15 Minutes | |||||||
| Before | 1738.32 | 1745.00 | 1737.23 | 1743.46 | 0.29% | 0.45% | 4,408 ETH |
| During | 1743.45 | 1747.31 | 1720.01 | 1732.52 | -0.63% | 1.56% | 24,350 ETH |
| 30 Minutes | |||||||
| Before | 1735.60 | 1745.00 | 1734.50 | 1743.46 | 0.45% | 0.60% | 6,780 ETH |
| During | 1743.45 | 1747.31 | 1720.01 | 1731.83 | -0.67% | 1.56% | 30,482 ETH |
| 1 Hour | |||||||
| Before | 1738.49 | 1745.00 | 1731.43 | 1743.46 | 0.29% | 0.78% | 14,902 ETH |
| During | 1743.45 | 1747.31 | 1720.01 | 1733.74 | -0.56% | 1.56% | 43,336 ETH |
| 2 Hours | |||||||
| Before | 1741.04 | 1745.00 | 1731.43 | 1743.46 | 0.14% | 0.78% | 21,301 ETH |
| During | 1743.45 | 1747.31 | 1720.01 | 1728.33 | -0.87% | 1.56% | 57,681 ETH |
| 4 Hours | |||||||
| Before | 1741.01 | 1745.00 | 1731.43 | 1743.46 | 0.14% | 0.78% | 32,520 ETH |
| During | 1743.45 | 1747.31 | 1630.43 | 1654.53 | -5.37% | 6.69% | 265,595 ETH |
| 6 Hours | |||||||
| Before | 1745.96 | 1749.30 | 1731.43 | 1743.46 | -0.14% | 1.02% | 51,275 ETH |
| During | 1743.45 | 1747.31 | 1630.43 | 1650.95 | -5.60% | 6.69% | 296,589 ETH |
| 8 Hours | |||||||
| Before | 1738.57 | 1750.03 | 1737.38 | 1741.00 | 0.14% | 0.72% | 52,741 ETH |
| During | 1741.01 | 1747.31 | 1630.43 | 1654.53 | -5.23% | 6.69% | 298,114 ETH |
| 12 Hours | |||||||
| Before | 1738.57 | 1750.03 | 1731.43 | 1743.46 | 0.28% | 1.06% | 85,260 ETH |
| During | 1743.45 | 1747.31 | 1630.43 | 1647.50 | -5.82% | 6.69% | 370,259 ETH |
