The release
Released by the Bureau of Economic Analysis on 26 April 2024 at 8:30 AM EDT. The Personal Consumption Expenditures came in at 0.3% for March 2024, against 0.3% in February 2024. 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.
How Ethereum moved
Ethereum was at $3,136.80 when the figure came out. Fifteen minutes later it was 0.22% higher, and an hour later 0.66% lower. Its high-to-low range in the hour after was 1.28% of its price, against 0.59% in the hour before.
Measured by Clometrix
Ethereum's volatility ratio was 1.52x, against 1.80x for a typical PCE release since 2021. Its volume ratio was 2.07x, against a typical 2.15x. 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 1.77x across 51. This one came out 5 days before the Federal Reserve's 1 May rate decision. Its own ratio of 1.52x compares with 1.86x for those, so it moved the price less than its circumstances would suggest.
Its record
Across 69 PCE releases since 2021, Ethereum's median volatility ratio is 1.80x.
What it means
Ethereum registered an ordinary reaction to the March PCE release, with its volatility ratio of 1.52x falling below the 1.80x median recorded across 69 PCE prints since 2021. The same quarter-hour window also produced a volume ratio of 2.07x, close to the 2.15x typical for the event. Because the release arrived together with Personal Income and Core PCE, the measured move reflects the combined data rather than PCE in isolation. Placement five days before the May 1 Federal Reserve decision put the print into the subset of 18 releases that have carried a 1.86x median volatility ratio. The actual 1.52x outcome remained below that benchmark, indicating the timing did not generate the additional movement the record would suggest for releases in the pre-decision period.
How it compares
Across 69 PCE releases since 2021, Ethereum's usual price swing is 1.80x. This one was 0.84 times the usual.
Thin line: PCE's usual, 1.80x. Thick line: this release, 1.52x.
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 | 3146.59 | 3136.37 | 3144.27 | 0.24% | 0.32% | 0.04% | 688 ETH |
| 5 minutes | 3150.61 | 3136.37 | 3144.00 | 0.23% | 0.45% | 0.10% | 2,599 ETH |
| 10 minutes | 3150.61 | 3136.37 | 3147.33 | 0.33% | 0.45% | 0.16% | 3,302 ETH |
| 15 minutes | 3150.61 | 3136.37 | 3143.60 | 0.22% | 0.45% | 0.25% | 4,065 ETH |
| 30 minutes | 3150.61 | 3118.60 | 3130.00 | -0.22% | 1.02% | 0.59% | 8,756 ETH |
| 1 hour | 3150.61 | 3110.38 | 3115.97 | -0.67% | 1.28% | 0.59% | 17,462 ETH |
| 2 hours | 3167.70 | 3110.38 | 3152.05 | 0.48% | 1.81% | 0.69% | 39,085 ETH |
| 4 hours | 3167.70 | 3102.00 | 3120.82 | -0.51% | 2.07% | 1.15% | 76,349 ETH |
| 6 hours | 3167.70 | 3102.00 | 3148.73 | 0.38% | 2.07% | 1.15% | 94,528 ETH |
| 8 hours | 3167.70 | 3102.00 | 3120.82 | -0.64% | 2.07% | 1.26% | 114,232 ETH |
| 12 hours | 3167.70 | 3102.00 | 3116.24 | -0.66% | 2.07% | 1.34% | 128,782 ETH |
Every coin at this release
| Coin | Price swing | Usual for PCE | Reaction |
|---|---|---|---|
| Bitcoin | 1.52x | 2.06x | Ordinary |
| Ethereum | 1.52x | 1.79x | Ordinary |
| XRP | 1.13x | 1.70x | Quiet |
| BNB | 0.91x | 1.78x | Quiet |
| Solana | 1.25x | 1.58x | Quiet |
| Dogecoin | 1.40x | 1.51x | Quiet |
| TRON | 1.36x | 1.42x | Quiet |
| Cardano | 1.27x | 1.88x | Quiet |
| Chainlink | 1.26x | 1.61x | Quiet |
| Sui | 1.00x | 1.52x | Quiet |
| Bitcoin Cash | 1.08x | 1.67x | Quiet |
| Hedera | 1.15x | 1.48x | Quiet |
| Avalanche | 1.54x | 1.55x | Ordinary |
| Litecoin | 2.22x | 1.64x | Strong |
| Shiba Inu | 1.78x | 1.74x | Ordinary |
| Uniswap | 1.49x | 1.48x | Quiet |
| Polkadot | 1.50x | 1.49x | Quiet |
| Aave | 1.26x | 1.57x | Quiet |
| Bittensor | 0.94x | 1.68x | Quiet |
| NEAR Protocol | 2.32x | 1.37x | Strong |
| Aptos | 1.34x | 1.70x | Quiet |
| Internet Computer | 1.51x | 1.50x | Ordinary |
| POL (prev. MATIC) | 1.39x | 1.56x | Quiet |
| Filecoin | 1.65x | 1.50x | 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.Questions about this page
Is 1.52x a lot?
For a PCE release it is ordinary: the usual is 1.80x. 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 Ethereum moved in after past PCE releases, so you can plan for the likely size of the move.
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.