#美联储联邦公开市场委员会决议 Market Observation for December 11

As expected, the Federal Reserve cut interest rates by 25 basis points last night. Powell's signals became clearer—there will be no more rate hikes, and the current focus is on when to resume rate cuts.

BTC was immediately pushed up to $94,000 by this positive news, but not long after, some began to take profits during this rally. Capital is clearly diverging, and the price has retraced to around $91,000. From this reaction, the $94,000 level is very critical for BTC's push toward $100,000—it must hold steady.

Looking at on-chain data, there are two signals worth noting:

First, stablecoins have been continuously flowing out of exchanges. This indicates that market sentiment still remains cautious, with limited active buying support. Second, BTC is also steadily flowing out of exchanges, which clearly suggests that large investors and institutions are accumulating at low levels, with holding periods often exceeding three years.

Together, it appears that we are still in a phase of capital transfer, which may take another 1 to 2 months. Once the turnover process concludes, coupled with supportive policies and the interest rate cut tailwind, 2026 could potentially see a breakout beyond expectations.

Risk Warning: This article is solely a market analysis and does not constitute any investment advice. Please make your own judgments, manage risk appropriately, and avoid emotional decisions.