Data Analysis
The release
Released by the Federal Open Market Committee on 28 July 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 $2,262.66 when the figure came out. Fifteen minutes later it was 0.85% higher, and an hour later 2.53% higher. Its high-to-low range in the hour after was 3.21% of its price, against 3.11% in the hour before.
Measured by Clometrix
Ethereum's volatility ratio was 2.54x, against 4.18x for a typical Fed Interest Rate release since 2021. Its volume ratio was 2.00x, 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 2.54x 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 Reserve's decision to hold the federal funds rate target at 0.00-0.25%. Its volatility ratio reached 2.54x, below the 4.18x median recorded across 46 Fed Interest Rate releases since 2021 and also below the 3.49x median seen in the 28 prior instances when the rate was left unchanged.
Volume expanded only 2.00x against the 7.50x typical for the event, while the hourly high-to-low range widened just modestly to 3.21% from 3.11% beforehand. The outcome fits the established pattern that rate holds have produced smaller moves than rate changes, which carry a 5.50x median volatility ratio across 18 cases.
Traders preparing for the next comparable statement can note that the absence of projections and a dot plot coincided with limited follow-through. The record shows that decisions of this type have consistently generated contained volatility in Ethereum relative to meetings that alter the target range.
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
2,297.52Close
2,301.0024h Change
3.48 (0.15%)24h High
2,345.0024h Low
2,243.1524h Volume
622,612 ETHUS Federal Reserve Interest Rate Decision
Federal Open Market Committee
28th July, 2021, 2:00PM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 2265.10 | 2265.58 | 2261.85 | 2262.67 | -0.11% | 0.16% | 477 ETH |
| During | 2262.66 | 2262.66 | 2251.02 | 2257.18 | -0.24% | 0.51% | 2,270 ETH |
| 5 Minutes | |||||||
| Before | 2266.72 | 2268.93 | 2260.36 | 2262.67 | -0.18% | 0.38% | 3,066 ETH |
| During | 2262.66 | 2279.41 | 2251.02 | 2275.38 | 0.56% | 1.25% | 6,721 ETH |
| 10 Minutes | |||||||
| Before | 2272.33 | 2275.59 | 2255.55 | 2262.67 | -0.43% | 0.88% | 10,032 ETH |
| During | 2262.66 | 2284.53 | 2251.02 | 2277.26 | 0.64% | 1.47% | 9,384 ETH |
| 15 Minutes | |||||||
| Before | 2272.40 | 2277.99 | 2255.55 | 2262.67 | -0.43% | 0.99% | 12,531 ETH |
| During | 2262.66 | 2284.53 | 2251.02 | 2281.85 | 0.84% | 1.47% | 10,969 ETH |
| 30 Minutes | |||||||
| Before | 2290.53 | 2297.05 | 2255.55 | 2262.67 | -1.23% | 1.81% | 33,955 ETH |
| During | 2262.66 | 2294.98 | 2251.02 | 2287.50 | 1.09% | 1.92% | 18,033 ETH |
| 1 Hour | |||||||
| Before | 2319.27 | 2325.99 | 2255.55 | 2262.67 | -2.50% | 3.03% | 50,761 ETH |
| During | 2262.66 | 2323.56 | 2251.02 | 2319.98 | 2.47% | 3.12% | 42,046 ETH |
| 2 Hours | |||||||
| Before | 2292.31 | 2325.99 | 2255.55 | 2262.67 | -1.31% | 3.03% | 77,906 ETH |
| During | 2262.66 | 2328.97 | 2251.02 | 2309.76 | 2.04% | 3.35% | 73,000 ETH |
| 4 Hours | |||||||
| Before | 2282.99 | 2325.99 | 2255.55 | 2262.67 | -0.90% | 3.03% | 115,982 ETH |
| During | 2262.66 | 2328.97 | 2251.02 | 2303.97 | 1.79% | 3.35% | 101,781 ETH |
| 6 Hours | |||||||
| Before | 2330.43 | 2333.21 | 2255.55 | 2262.67 | -2.99% | 3.33% | 197,494 ETH |
| During | 2262.66 | 2328.97 | 2251.02 | 2300.90 | 1.66% | 3.35% | 131,359 ETH |
| 8 Hours | |||||||
| Before | 2297.52 | 2345.00 | 2243.15 | 2283.00 | -0.64% | 4.34% | 279,356 ETH |
| During | 2282.99 | 2328.97 | 2251.02 | 2303.97 | 0.91% | 3.35% | 217,763 ETH |
| 12 Hours | |||||||
| Before | 2297.52 | 2345.00 | 2243.15 | 2262.67 | -1.54% | 4.34% | 395,338 ETH |
| During | 2262.66 | 2328.97 | 2251.02 | 2301.00 | 1.67% | 3.35% | 227,274 ETH |
