The results of the December 11th FOMC meeting have been announced—The Federal Reserve voted 9-3 in favor this time, cutting the benchmark interest rate by 25 basis points, now falling within the range of 3.50% to 3.75%. This is the third consecutive meeting to cut rates.

One detail worth noting: The policy statement this time removed the previous wording describing the unemployment rate as "relatively low." Additionally, the latest dot plot shows there may be another 25 basis point cut in 2026.

There are also liquidity measures—starting from December 12th, they will purchase $40 billion in Treasury securities over the next month to ensure sufficient reserve supply in the market. The impact of these operations on risk assets like BTC may take a few weeks to become clear.