The Federal Reserve meeting on December 11th has a pretty interesting script.

A 25 basis point rate cut was expected, but the post-meeting statement hid a dagger—hinting that rate hikes might pause next year. The market instantly changed its face, and BTC and ETH staged a textbook "rise sharply then fall back."

First, let's talk about Bitcoin. When the decision was announced, the price shot straight up to $94,500. Seeing that the profit-taking was not looking good, traders immediately started to exit. By the end of Asian trading, it had dropped to around $91,000, struggling to hold the line. Looking at the chart, the previous fluctuation range from $91,500 to $93,200 has now become a resistance zone, and the price below $90,000 to $90,500 is a barrier. If it can't hold this, it might head down to around $89,000. Market liquidity is also lacking; although ETF accumulation has been ongoing in recent days, spot buying volume couldn't keep up yesterday, leading to over $300 million in liquidations across the network, with bulls and bears fighting it out.

ETH's movement is roughly the same. It surged from around $3,300 to $3,445, then fell along with the broader market, now resting near $3,270. However, after the Fusaka upgrade, it has been more resilient, with the decline more restrained. Technically speaking, the $3,200 to $3,240 zone is the lifeline for today. This area overlaps previous highs, trendlines, and Fibonacci retracements, making it very critical. If it breaks below, the next support could be between $3,150 and $3,180, and further down, $3,000 to $3,100 would be the Maignan line of defense for the bulls. The good news is on-chain data shows ETH reserves on exchanges have bottomed out, large holders are still accumulating, and the long-term logic remains intact.

In plain terms, we are now in the stage of "profit-taking and cooling off." Short-term volatility is unavoidable; next, we need to watch closely what the Fed folks might say and whether these key support levels can hold.