The release
Released by the Bureau of Economic Analysis on 22 December 2023 at 8:30 AM EST. The Personal Consumption Expenditures came in at 0.0% for November 2023, against 0.0% in October 2023. Prices were flat.
It arrived at the same moment as Durable Goods Orders, Durable Goods Orders Excluding Transportation, Personal Income and Outlays and Core Personal Consumption Expenditures, so the reaction measured on this page belongs to all of them together.
Measured by Clometrix
Filecoin's volatility ratio was 1.26x, against 1.51x for a typical PCE release since 2021. Its volume ratio was 1.60x, against a typical 2.31x. Under 1.5x is not a reaction at all: the market barely noticed this release. 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 Filecoin moved
Filecoin was at $5.490 when the figure came out. Fifteen minutes later it was 0.55% higher, and an hour later 0.73% lower. Its high-to-low range in the hour after was 1.82% of its price, against 1.46% in the hour before.
What made it matter
Since 2021, PCE releases in the two weeks before a Fed decision have moved Filecoin more than those at other times: a median volatility ratio of 1.67x across 18, against 1.42x across 52. This one was not within two weeks of a Fed decision. Its own ratio of 1.26x compares with 1.42x for those, about what its circumstances would suggest.
How it compares
Across 69 PCE releases since 2021, Filecoin's usual price swing is 1.51x. This one was 0.83 times the usual.
Thin line: PCE's usual, 1.51x. Thick line: this release, 1.26x. Under 1.5x counts as no reaction at all.
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 | 5.49 | 5.48 | 5.48 | -0.18% | 0.18% | 0.18% | 11,577 FIL |
| 5 minutes | 5.50 | 5.47 | 5.49 | 0.00% | 0.55% | 0.36% | 49,151 FIL |
| 10 minutes | 5.51 | 5.47 | 5.51 | 0.36% | 0.73% | 1.44% | 98,709 FIL |
| 15 minutes | 5.52 | 5.47 | 5.52 | 0.54% | 0.91% | 1.44% | 148,347 FIL |
| 30 minutes | 5.53 | 5.47 | 5.53 | 0.72% | 1.08% | 1.44% | 227,877 FIL |
| 1 hour | 5.54 | 5.44 | 5.45 | -0.73% | 1.81% | 1.44% | 483,015 FIL |
| 2 hours | 5.54 | 5.44 | 5.47 | -0.37% | 1.81% | 1.97% | 876,435 FIL |
| 4 hours | 5.54 | 5.42 | 5.48 | -0.18% | 2.17% | 3.18% | 1.701M FIL |
| 6 hours | 5.54 | 5.42 | 5.48 | -0.18% | 2.17% | 4.06% | 2.177M FIL |
| 8 hours | 5.66 | 5.42 | 5.48 | -0.18% | 4.24% | 6.38% | 3.868M FIL |
| 12 hours | 5.55 | 5.42 | 5.44 | -0.92% | 2.34% | 6.38% | 3.507M FIL |
Every coin at this release
| Coin | Price swing | Usual for PCE | Reaction |
|---|---|---|---|
| Bitcoin | 2.16x | 2.03x | Ordinary |
| Ethereum | 1.38x | 1.77x | Quiet |
| XRP | 1.13x | 1.81x | Quiet |
| BNB | 1.25x | 1.75x | Quiet |
| Solana | 1.44x | 1.57x | Quiet |
| Dogecoin | 2.33x | 1.52x | Strong |
| TRON | 0.92x | 1.43x | Quiet |
| Cardano | 1.42x | 1.90x | Quiet |
| Chainlink | 1.78x | 1.62x | Ordinary |
| Sui | 1.42x | 1.53x | Quiet |
| Bitcoin Cash | 1.12x | 1.69x | Quiet |
| Hedera | 1.04x | 1.51x | Quiet |
| Avalanche | 1.45x | 1.55x | Quiet |
| Litecoin | 1.34x | 1.64x | Quiet |
| Shiba Inu | 2.55x | 1.75x | Strong |
| Uniswap | 1.24x | 1.49x | Quiet |
| Polkadot | 1.98x | 1.50x | Strong |
| Aave | 0.87x | 1.58x | Quiet |
| NEAR Protocol | 0.75x | 1.43x | Quiet |
| Aptos | 1.29x | 1.73x | Quiet |
| Internet Computer | 1.00x | 1.50x | Quiet |
| POL (prev. MATIC) | 2.22x | 1.60x | Strong |
| Filecoin | 1.26x | 1.51x | Quiet |
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 1.26x a lot?
No. Under 1.5x the market barely noticed the release.
Will the next PCE do the same?
Nobody can say. A forecast shows the range Filecoin 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.