Data Analysis
Measured by Clometrix
Ethereum's volatility ratio was 5.38x, against 1.80x for a typical Personal Income release since 2021. Its volume ratio was 6.63x, against a typical 2.15x. That is more than twice 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.
How Ethereum moved
Ethereum was at $1,815.82 when the figure came out. Fifteen minutes later it was 0.2% lower, and an hour later 0.12% higher. Its high-to-low range in the hour after was 0.81% of its price, against 0.32% in the hour before.
The release
Released by the Bureau of Economic Analysis on 26 May 2023 at 8:30 AM EDT. The Personal Income and Outlays came in at 0.4% for April 2023, against 0.5% in March 2023. Personal income is still rising, but more slowly than before.
It arrived at the same moment as Durable Goods Orders, Durable Goods Orders Excluding Transportation, 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 was not within two weeks of a Fed decision. Its own ratio of 5.38x compares with 1.77x 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 reaction to the 26 May 2023 Personal Income release stood out as exceptional, with a volatility ratio of 5.38x against the 1.80x median recorded across 69 such events since 2021. Volume expanded to 6.63x relative to the 2.15x typical benchmark, more than doubling the usual response for this release type.
The print itself showed personal income rising 0.4 percent in April after a 0.5 percent gain in March. It arrived alongside Durable Goods Orders, core and headline PCE, and the other components of the Personal Income and Outlays report, none of which fell inside the two-week window ahead of the June Federal Reserve decision.
Price action remained contained in direction yet widened in range: Ethereum stood at $1,815.82 at the 8:30 AM release, traded 0.2 percent lower fifteen minutes later and 0.12 percent higher after one hour, while the high-low range expanded from 0.32 percent in the prior hour to 0.81 percent afterward.
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
1,807.60Close
1,826.3824h Change
18.78 (1.03%)24h High
1,838.2024h Low
1,796.9924h Volume
272,410 ETHUS Personal Income and Outlays
Bureau of Economic Analysis
26th May, 2023, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 1816.35 | 1816.37 | 1815.33 | 1815.83 | -0.03% | 0.06% | 625 ETH |
| During | 1815.82 | 1823.81 | 1811.89 | 1814.44 | -0.08% | 0.65% | 5,826 ETH |
| 5 Minutes | |||||||
| Before | 1816.23 | 1817.00 | 1815.33 | 1815.83 | -0.02% | 0.09% | 2,001 ETH |
| During | 1815.82 | 1823.81 | 1810.42 | 1812.60 | -0.18% | 0.73% | 8,671 ETH |
| 10 Minutes | |||||||
| Before | 1814.62 | 1817.00 | 1814.47 | 1815.83 | 0.07% | 0.14% | 3,406 ETH |
| During | 1815.82 | 1823.81 | 1809.03 | 1810.29 | -0.31% | 0.81% | 12,271 ETH |
| 15 Minutes | |||||||
| Before | 1813.96 | 1817.00 | 1813.56 | 1815.83 | 0.10% | 0.19% | 3,724 ETH |
| During | 1815.82 | 1823.81 | 1809.03 | 1812.27 | -0.20% | 0.81% | 13,855 ETH |
| 30 Minutes | |||||||
| Before | 1812.26 | 1817.00 | 1812.19 | 1815.83 | 0.20% | 0.26% | 5,219 ETH |
| During | 1815.82 | 1823.81 | 1809.03 | 1814.73 | -0.06% | 0.81% | 16,677 ETH |
| 1 Hour | |||||||
| Before | 1813.80 | 1817.00 | 1811.27 | 1815.83 | 0.11% | 0.32% | 10,224 ETH |
| During | 1815.82 | 1823.81 | 1809.03 | 1818.08 | 0.12% | 0.81% | 25,927 ETH |
| 2 Hours | |||||||
| Before | 1812.45 | 1817.00 | 1811.27 | 1815.83 | 0.19% | 0.32% | 18,079 ETH |
| During | 1815.82 | 1835.56 | 1809.03 | 1831.71 | 0.87% | 1.45% | 64,558 ETH |
| 4 Hours | |||||||
| Before | 1815.87 | 1818.52 | 1811.11 | 1815.83 | 0.00% | 0.41% | 34,503 ETH |
| During | 1815.82 | 1838.20 | 1809.03 | 1831.90 | 0.88% | 1.59% | 104,493 ETH |
| 6 Hours | |||||||
| Before | 1807.01 | 1818.52 | 1806.16 | 1815.83 | 0.49% | 0.68% | 56,937 ETH |
| During | 1815.82 | 1838.20 | 1809.03 | 1828.87 | 0.71% | 1.59% | 126,847 ETH |
| 8 Hours | |||||||
| Before | 1807.60 | 1817.72 | 1796.99 | 1815.87 | 0.46% | 1.14% | 74,084 ETH |
| During | 1815.87 | 1838.20 | 1809.03 | 1831.90 | 0.88% | 1.59% | 138,995 ETH |
| 12 Hours | |||||||
| Before | 1807.60 | 1818.52 | 1796.99 | 1815.83 | 0.45% | 1.18% | 108,587 ETH |
| During | 1815.82 | 1838.20 | 1809.03 | 1826.38 | 0.58% | 1.59% | 163,823 ETH |
