How Ethereum reacted to the Personal Consumption Expenditures on 22 January 2026

The release

Released by the Bureau of Economic Analysis on 22 January 2026 at 10:00 AM EST. The Personal Consumption Expenditures came in at 0.2% for November 2025, against 0.3% in September 2025. Prices are still rising, but more slowly than before.

It arrived at the same moment as Personal Income and Outlays and Core Personal Consumption Expenditures, so the reaction measured on this page belongs to all of them together.

How Ethereum moved

Ethereum was at $2,941.32 when the figure came out. Fifteen minutes later it was 0.22% higher, and an hour later unchanged. Its high-to-low range in the hour after was 2.12% of its price, against 1.59% in the hour before.

Measured by Clometrix

Ethereum's volatility ratio was 1.86x, against 1.77x for a typical PCE release since 2021. Its volume ratio was 4.26x, against a typical 2.11x. 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, PCE releases in the two weeks before a Fed decision have moved Ethereum about as much as those at other times: a median volatility ratio of 1.86x across 18, against 1.72x across 52. This one came out 6 days before the Federal Reserve's 28 January rate decision. Its own ratio of 1.86x compares with 1.86x for those, about what its circumstances would suggest.

Its record

Across 70 PCE releases since 2021, Ethereum's median volatility ratio is 1.79x.

What it means

Ethereum registered an ordinary reaction to the PCE release and the Personal Income and Core PCE figures that arrived alongside it. The volatility ratio of 1.86x sat just above the 1.80x median recorded across 69 PCE prints since 2021. Price advanced 0.22 percent in the first fifteen minutes from the $2,941.32 dollar level before finishing the hour unchanged.

The one-hour high-to-low range widened only to 2.12 percent from 1.59 percent beforehand, while volume reached 4.26x its typical quarter-hour level. These readings produced the classification of an ordinary outcome for this event. The release occurred six days before the Federal Reserve decision on 28 January.

Historical data show PCE prints in the two weeks before a policy meeting have generated a median volatility ratio of 1.86x, virtually identical to the 1.77x median observed at other times. The present instance therefore followed the established pattern for timing rather than deviating from it. A trader reviewing the record can observe that volume responses have at times exceeded the volatility response without lifting the overall move outside the event's usual bounds.

What is the Personal Consumption Expenditures?

Every PCE release for Ethereum