Data Analysis
The release
Released by the Bureau of Economic Analysis on 26 January 2024 at 8:30 AM EST. The Personal Income and Outlays came in at 0.4% for December 2023, against 0.4% in November 2023. 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.
Measured by Clometrix
Ethereum's volatility ratio was 1.16x, against 1.80x for a typical Personal Income release since 2021. Its volume ratio was 1.21x, against a typical 2.15x. 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 Ethereum moved
Ethereum was at $2,249.37 when the figure came out. Fifteen minutes later it was 0.18% lower, and an hour later unchanged. Its high-to-low range in the hour after was 0.77% of its price, against 0.86% in the hour before.
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 5 days before the Federal Reserve's 31 January rate decision. Its own ratio of 1.16x compares with 1.86x for those, so it moved the price less than its circumstances would suggest.
What it means
Subdued response to bundled data
Ethereum registered a quiet reaction to the 26 January Personal Income release, posting a volatility ratio of 1.16x against the 1.80x median recorded for the event since 2021. Volume expanded by just 1.21x, compared with the typical 2.15x, confirming that activity remained near normal levels for the release quarter hour.
The print arrived alongside PCE and Core PCE readings and five days before the Federal Reserve's 31 January decision. Releases in that pre-Fed window have produced a median volatility ratio of 1.86x for Ethereum across 18 observations, yet this instance stayed materially below that mark.
Price movement stayed narrow, with Ethereum at $2,249.37 on release, down 0.18 percent fifteen minutes later and unchanged after one hour. The high-to-low range reached only 0.77 percent in the hour after the data, versus 0.86 percent beforehand.
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
2,216.57Close
2,277.4924h Change
60.92 (2.67%)24h High
2,282.9424h Low
2,195.8424h Volume
367,857 ETHUS Personal Income and Outlays
Bureau of Economic Analysis
26th January, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 2249.72 | 2249.76 | 2249.27 | 2249.38 | -0.02% | 0.02% | 121 ETH |
| During | 2249.37 | 2249.80 | 2248.61 | 2249.29 | 0.00% | 0.05% | 230 ETH |
| 5 Minutes | |||||||
| Before | 2245.03 | 2249.76 | 2245.03 | 2249.38 | 0.19% | 0.21% | 1,049 ETH |
| During | 2249.37 | 2249.80 | 2246.73 | 2247.01 | -0.11% | 0.14% | 844 ETH |
| 10 Minutes | |||||||
| Before | 2248.40 | 2249.76 | 2245.03 | 2249.38 | 0.04% | 0.21% | 1,755 ETH |
| During | 2249.37 | 2249.80 | 2242.19 | 2244.18 | -0.23% | 0.34% | 2,429 ETH |
| 15 Minutes | |||||||
| Before | 2249.61 | 2251.77 | 2245.03 | 2249.38 | -0.01% | 0.30% | 2,790 ETH |
| During | 2249.37 | 2249.80 | 2242.19 | 2245.40 | -0.18% | 0.34% | 3,605 ETH |
| 30 Minutes | |||||||
| Before | 2247.54 | 2251.77 | 2245.03 | 2249.38 | 0.08% | 0.30% | 5,296 ETH |
| During | 2249.37 | 2249.80 | 2234.46 | 2240.89 | -0.38% | 0.68% | 9,092 ETH |
| 1 Hour | |||||||
| Before | 2261.62 | 2263.41 | 2244.11 | 2249.38 | -0.54% | 0.85% | 17,112 ETH |
| During | 2249.37 | 2251.71 | 2234.46 | 2248.41 | -0.04% | 0.77% | 14,113 ETH |
| 2 Hours | |||||||
| Before | 2250.49 | 2265.19 | 2244.11 | 2249.38 | -0.05% | 0.93% | 57,042 ETH |
| During | 2249.37 | 2259.63 | 2234.46 | 2254.92 | 0.25% | 1.11% | 29,934 ETH |
| 4 Hours | |||||||
| Before | 2213.33 | 2265.19 | 2204.52 | 2249.38 | 1.60% | 2.68% | 113,475 ETH |
| During | 2249.37 | 2282.36 | 2234.46 | 2268.81 | 0.86% | 2.10% | 80,650 ETH |
| 6 Hours | |||||||
| Before | 2202.81 | 2265.19 | 2195.84 | 2249.38 | 2.07% | 3.06% | 141,922 ETH |
| During | 2249.37 | 2282.36 | 2234.46 | 2263.62 | 0.63% | 2.10% | 111,622 ETH |
| 8 Hours | |||||||
| Before | 2216.57 | 2237.80 | 2195.84 | 2213.32 | -0.15% | 1.88% | 86,406 ETH |
| During | 2213.33 | 2282.36 | 2204.52 | 2268.81 | 2.45% | 3.41% | 194,125 ETH |
| 12 Hours | |||||||
| Before | 2216.57 | 2265.19 | 2195.84 | 2249.38 | 1.46% | 3.06% | 199,881 ETH |
| During | 2249.37 | 2282.94 | 2234.46 | 2277.49 | 1.23% | 2.12% | 167,976 ETH |
