Data Analysis
Measured by Clometrix
Ethereum's volatility ratio was 3.02x, against 1.80x for a typical Personal Income release since 2021. Its volume ratio was 7.63x, against a typical 2.15x. 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 Ethereum moved
Ethereum was at $3,815.98 when the figure came out. Fifteen minutes later it was 0.72% higher, and an hour later unchanged. Its high-to-low range in the hour after was 1.17% of its price, against 0.88% in the hour before.
The release
Released by the Bureau of Economic Analysis on 31 May 2024 at 8:30 AM EDT. The Personal Income and Outlays came in at 0.1% for April 2024, against 0.6% in March 2024. Personal income is still rising, but more slowly than before.
It arrived at the same moment as Personal Consumption Expenditures and Core Personal Consumption Expenditures, so the reaction measured on this page belongs to all of them together.
What made it matter
Since 2021, Personal Income 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 12 days before the Federal Reserve's 12 June rate decision. Its own ratio of 3.02x compares with 1.86x for those, so it moved the price more than its circumstances alone would suggest.
Its record
Across 69 Personal Income releases since 2021, Ethereum's median volatility ratio is 1.80x.
What it means
Ethereum's volatility ratio of 3.02x marked a strong reaction relative to the 1.80x median recorded across 69 Personal Income releases since 2021. Volume expanded to 7.63x its typical quarter-hour level against a 2.15x benchmark, confirming the move exceeded the event's usual footprint. The outcome aligned with Clometrix's classification of the release as strong for this coin.
Price Path and Timing Context
Ethereum stood at $3,815.98 at the 8:30 AM release and rose 0.72 percent within fifteen minutes before closing the hour unchanged. Its hourly high-to-low range widened to 1.17 percent from 0.88 percent beforehand. The print arrived twelve days before the June Federal Reserve decision alongside PCE and core PCE readings of 0.3 percent each. Personal Income releases in the two weeks before FOMC meetings have produced a 1.86x median volatility ratio since 2021, nearly identical to the 1.77x median at other times. Traders may note that the joint release format, rather than Personal Income in isolation, coincided with the elevated activity.
About Personal Income and Outlays
Personal Income measures the change in the total value of income received from all sources by consumers. Income is closely correlated with consumer spending, which accounts for a majority of overall economic activity.
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
3,748.45Close
3,759.8424h Change
11.39 (0.30%)24h High
3,849.9424h Low
3,723.7524h Volume
274,628 ETHUS Personal Income and Outlays
Bureau of Economic Analysis
31st May, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 3817.32 | 3818.50 | 3815.68 | 3815.78 | -0.04% | 0.07% | 276 ETH |
| During | 3815.98 | 3849.94 | 3815.98 | 3840.78 | 0.65% | 0.88% | 4,866 ETH |
| 5 Minutes | |||||||
| Before | 3817.38 | 3823.00 | 3815.68 | 3815.78 | -0.04% | 0.19% | 2,482 ETH |
| During | 3815.98 | 3849.94 | 3815.98 | 3834.41 | 0.48% | 0.88% | 8,579 ETH |
| 10 Minutes | |||||||
| Before | 3811.49 | 3823.00 | 3811.49 | 3815.78 | 0.11% | 0.30% | 4,857 ETH |
| During | 3815.98 | 3849.94 | 3815.98 | 3835.01 | 0.50% | 0.88% | 12,090 ETH |
| 15 Minutes | |||||||
| Before | 3807.61 | 3823.00 | 3806.81 | 3815.78 | 0.21% | 0.42% | 5,900 ETH |
| During | 3815.98 | 3849.94 | 3815.98 | 3843.35 | 0.71% | 0.88% | 15,375 ETH |
| 30 Minutes | |||||||
| Before | 3802.62 | 3823.00 | 3801.29 | 3815.78 | 0.34% | 0.57% | 9,305 ETH |
| During | 3815.98 | 3849.94 | 3815.98 | 3825.08 | 0.24% | 0.88% | 22,392 ETH |
| 1 Hour | |||||||
| Before | 3790.31 | 3823.00 | 3789.46 | 3815.78 | 0.67% | 0.88% | 17,880 ETH |
| During | 3815.98 | 3849.94 | 3805.41 | 3814.40 | -0.04% | 1.16% | 30,072 ETH |
| 2 Hours | |||||||
| Before | 3771.90 | 3823.00 | 3767.32 | 3815.78 | 1.15% | 1.46% | 30,098 ETH |
| During | 3815.98 | 3849.94 | 3766.51 | 3786.26 | -0.78% | 2.17% | 54,967 ETH |
| 4 Hours | |||||||
| Before | 3733.64 | 3823.00 | 3729.40 | 3815.78 | 2.15% | 2.45% | 50,833 ETH |
| During | 3815.98 | 3849.94 | 3723.75 | 3750.52 | -1.75% | 3.28% | 96,797 ETH |
| 6 Hours | |||||||
| Before | 3749.85 | 3823.00 | 3724.41 | 3815.78 | 1.73% | 2.58% | 69,608 ETH |
| During | 3815.98 | 3849.94 | 3723.75 | 3778.45 | -0.99% | 3.28% | 117,581 ETH |
| 8 Hours | |||||||
| Before | 3748.45 | 3770.00 | 3724.41 | 3733.65 | -0.40% | 1.21% | 51,358 ETH |
| During | 3733.64 | 3849.94 | 3723.75 | 3750.52 | 0.45% | 3.28% | 147,630 ETH |
| 12 Hours | |||||||
| Before | 3748.45 | 3823.00 | 3724.41 | 3815.78 | 1.76% | 2.58% | 102,191 ETH |
| During | 3815.98 | 3849.94 | 3723.75 | 3759.84 | -1.49% | 3.28% | 172,437 ETH |
