12.11

The early morning interest rate decision was announced, in line with market expectations of a 25 basis point cut. Here are three key points from the Federal Reserve's announcement:

1. The announcement included the statement, "If there are risks that hinder the achievement of the target, we are ready to adjust monetary policy at any time." This statement can be considered a dovish forward guidance, indicating that if inflation continues to approach the 2% target or if the labor market continues to cool down with an increasing unemployment rate, it will stimulate adjustments in monetary policy.

2. The Federal Reserve announced a short-term bond purchase plan. Although this is not quantitative easing (QE), it is a form of technical expansion of the balance sheet, primarily defensive in nature to prevent insufficient liquidity in the banking financial system. While it won't directly stimulate risk markets like QE does, it does add leverage to the market and reduce risk.

3. Among the few dissenting votes in this vote, Milan still insisted on a 50 basis point rate cut, hence voting against it, while Gulbis and Schmidt insisted on maintaining the interest rate, thus casting dissenting votes.

BTC

Overall, the speech in the early morning was like Tai Chi. The thought given to everyone yesterday was that for the trend to continue, we need to pay attention to whether 93900 can hold steady. After a quick spike upward yesterday, it fell back rapidly. The current market still faces a choice of direction. Recently, there isn't much to say about the market, and we can only look at the short term. In summary, as long as 93900 does not break, be cautious of short-term risks, and pay attention to whether 89000 can hold. The main range is between support at 89000-87500 and resistance at 93000-93900-95500.

ETH

Ethereum has seen many institutions increase their positions recently, but it cannot withstand the overall industry liquidity drain. The overall market is stronger than Bitcoin, and the resistance level of 3360 still hasn't held. During the day, pay attention to whether 3195 can hold. If it can hold, it may continue to move upward in a range. Support is at 3200-3075, and resistance is at 3360-3430$BTC .