How Bitcoin Cash reacted to the Personal Consumption Expenditures on 27 October 2023

Measured by Clometrix

Bitcoin Cash's volatility ratio was 2.22x, against 1.69x for a typical PCE release since 2021. Its volume ratio was 5.63x, against a typical 2.03x. 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 Bitcoin Cash moved

Bitcoin Cash was at $243.50 when the figure came out. Fifteen minutes later it was 0.86% higher, and an hour later 1.03% higher. Its high-to-low range in the hour after was 1.52% of its price, against 0.94% in the hour before.

The release

Released by the Bureau of Economic Analysis on 27 October 2023 at 8:30 AM EDT. The Personal Consumption Expenditures came in at 0.3% for September 2023, against 0.3% in August 2023. Prices are rising at the same pace as 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.

What made it matter

Since 2021, PCE releases in the two weeks before a Fed decision have moved Bitcoin Cash about as much as those at other times: a median volatility ratio of 1.74x across 18, against 1.64x across 52. This one came out 5 days before the Federal Reserve's 1 November rate decision. Its own ratio of 2.22x compares with 1.74x for those, so it moved the price more than its circumstances alone would suggest.

Its record

Across 70 PCE releases since 2021, Bitcoin Cash's median volatility ratio is 1.67x.

How it compares

Across 69 PCE releases since 2021, Bitcoin Cash's usual price swing is 1.69x. This one was 1.31 times the usual.

MutedOrdinaryStrongExceptional

Thin line: PCE's usual, 1.69x. Thick line: this release, 2.22x.

Minute by minute

Each row is the time after the release, with the same length of time before it for comparison.

After	High	Low	Close	Change	Range	Range before	Volume
1 minute	244.30	243.40	243.90	0.16%	0.37%	0.12%	59 BCH
5 minutes	244.60	243.40	244.60	0.45%	0.49%	0.41%	115 BCH
10 minutes	245.30	243.40	244.60	0.45%	0.77%	0.65%	2,483 BCH
15 minutes	245.60	243.40	245.60	0.86%	0.90%	0.65%	2,720 BCH
30 minutes	247.10	243.40	245.70	0.90%	1.50%	0.65%	3,506 BCH
1 hour	247.10	243.40	246.00	1.02%	1.50%	0.94%	4,330 BCH
2 hours	247.10	242.90	243.10	-0.16%	1.70%	1.02%	10,580 BCH
4 hours	247.10	241.40	242.50	-0.41%	2.31%	1.82%	15,194 BCH
6 hours	247.10	232.80	234.70	-3.75%	5.79%	2.27%	31,044 BCH
8 hours	247.10	241.40	242.50	0.00%	2.31%	2.19%	28,670 BCH
12 hours	247.10	232.80	242.50	-0.41%	5.79%	2.31%	41,914 BCH

Every coin at this release

Coin	Price swing	Usual for PCE	Reaction
Bitcoin	2.09x	2.03x	Ordinary
Ethereum	2.19x	1.77x	Ordinary
XRP	1.01x	1.81x	Quiet
BNB	2.12x	1.75x	Ordinary
Solana	1.51x	1.57x	Ordinary
Dogecoin	1.39x	1.52x	Quiet
TRON	0.94x	1.43x	Quiet
Cardano	2.00x	1.90x	Ordinary
Chainlink	2.07x	1.62x	Ordinary
Sui	2.28x	1.53x	Strong
Bitcoin Cash	2.22x	1.69x	Strong
Hedera	1.01x	1.51x	Quiet
Avalanche	1.44x	1.55x	Quiet
Litecoin	1.98x	1.64x	Ordinary
Shiba Inu	1.75x	1.75x	Ordinary
Uniswap	1.50x	1.49x	Ordinary
Polkadot	1.52x	1.50x	Ordinary
Aave	1.80x	1.58x	Ordinary
NEAR Protocol	1.02x	1.43x	Quiet
Aptos	2.95x	1.73x	Strong
Internet Computer	1.01x	1.50x	Quiet
POL (prev. MATIC)	2.07x	1.60x	Ordinary
Filecoin	1.51x	1.51x	Ordinary

What is the Personal Consumption Expenditures?

Personal consumption expenditures (PCE) is a measure of the prices people in the United States pay for goods and services. PCE accounts for about two-thirds of domestic spending and is a significant driver of gross domestic product (GDP). An estimated total of personal consumption expenditures (PCE) is compiled by the Bureau of Economic Analysis as one way to measure and track changes in the prices of consumer goods over time.

Every PCE release for Bitcoin Cash

Questions about this page

Is 2.22x a lot?

For a PCE release it is strong: the usual is 1.69x. Each report has its own usual size, and its releases show it.

Will the next PCE do the same?

Nobody can say. A forecast shows the range Bitcoin Cash moved in after past PCE releases, so you can plan for the likely size of the move.

What is PCE, and why does the Fed watch it?

PCE is the Personal Consumption Expenditures price index published by the Bureau of Economic Analysis. The Federal Reserve measures its 2 percent inflation goal with the PCE price index. PCE, Core PCE and Personal Income are released together at 8:30 a.m. ET and share one reaction. Their median Bitcoin price swing since 2021 is 2.03x, which places them in Tier 2.

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.