BlockBeats reported on December 11 that on-chain data analyst Yu Jin identified a substantial cross-chain transaction. Over a two-week period leading up to this identification, a significant crypto whale or institutional entity executed a swap, converting 1,469 Bitcoin (BTC) into 43,647 Ethereum (ETH) via the decentralized THORChain protocol. This transaction was valued at approximately $131 million, with the Ethereum acquired at an average price of $3,000 per ETH. This event underscores the growing utility of decentralized cross-chain liquidity protocols for large-scale asset rebalancing and strategic portfolio adjustments within the cryptocurrency market.

Ethereum slipped below $3,300 on Dec. 11, trading around $3,295, HTX data show. The move marks a minor decline for ETH on the exchange.

The Federal Reserve lowered its benchmark rate by 25 basis points to 3.50%-3.75% on December 11 at 3:00 a.m. Beijing time, marking a third consecutive cut and bringing cumulative easing this year to 75 basis points, BlockBeats reports. The Fed's dot plot projects one 25-basis-point cut in both 2026 and 2027, while officials appear more concerned about inflation and labor market dynamics with limited appetite for near-term easing amid internal divisions, according to "Fed whisperer" Nick Timiraos. Fed Chair Jerome Powell said the labor market is gradually cooling but inflation remains somewhat elevated with upside risks, while September data showed unemployment ticked up alongside slowing job growth. Goldman Sachs analyst Kay Haigh said the Fed has likely reached the end of its "pre-emptive easing" phase and argued further labor market weakness would be needed to justify additional loosening, while Bitcoin briefly broke above $94,000 after Powell's remarks before pulling back to $91,918 at press time.

A BitMine address received 33,504 ETH from a FalconX address on Dec. 11 in two transfers worth approximately 1.12 亿美元, Onchain Lens data show. The transfers occurred five hours and one hour before the report, split into two transactions.

The Dollar Index closed down 0.4% on Dec. 11, the largest decline since Sept. 16, after the Federal Reserve cut rates by 0.25 percentage points, BlockBeats reports. Fed Chair Jerome Powell emphasized labor-market risks, and Bank of America strategist Alex Cohen said Powell sounded less optimistic on jobs than in prior forecasts.

Informa Global Markets described the December 11 FOMC decision as "mildly dovish," noting only two voting members opposed rate cuts and backed keeping interest rates unchanged, BlockBeats reports. The firm said Wall Street had braced for a tougher stance from inflation-focused hawkish voters, but those members ultimately yielded when casting their votes.

Federal Reserve Chair Jerome Powell said on Dec. 11 that another rate hike is unlikely to be the Fed's next move, based on the central bank policymakers' new projections, BlockBeats reports citing Jin10. Powell stated he does not think a rate increase is anyone's baseline expectation at this point. He also indicated that interest rates are likely to be kept unchanged in the near term.

Analyst Anna Wong said on Dec. 11 that the Federal Reserve's latest policy statement and projections were on balance dovish despite some hawkish undertones, BlockBeats and Jin10 report. The Federal Open Market Committee sharply revised up its growth outlook, lowered inflation forecasts, kept the dot plot unchanged and announced the start of reserve-management purchases, while signaling a preference for keeping rate cuts on hold for longer. Wong expects the Fed to cut rates by a total of 100 basis points in 2025, citing an outlook for weaker wage growth and no clear signs of inflation re-accelerating in the first half of 2026, even though the dot plot points to only one rate cut in 2026 versus two expected by markets.

B. Riley Wealth Chief Market Strategist Art Hogan described the Fed's Dec. 11 rate cut as "definitely hawkish," BlockBeats reports. While two committee members dissented in favor of holding rates steady, the dot-plot projections revealed six policymakers expected no cut at all, Hogan said. He noted the dot plot conveyed a stronger hawkish message than the two public dissenters and effectively raised the threshold for another rate cut at the next meeting.