Yi Lihua: No Bottom-Fishing in the Short Term; Stay Alert to the Huang Renxun Incident's Continued Impact on US Stocks

Odaily reports: Liquid Capital founder Yi Lihua posted that the crypto market continued to decline on Saturday, which he believes was mainly affected by the Huang Renxun incident, with market expectations for the subsequent trend of US stocks turning pessimistic, and a further 30% drop in US stocks is not impossible. Before the situation becomes clear, it is unwise to easily judge that the market has bottomed out.

Yi Lihua stated that he had previously identified $79,000, $75,000, and $71,000 as three key support levels for BTC after its pullback from $86,000, and entered near $77,000 to buy the dip. At that time, judging from Bitcoin's own price action, the market had a significant rebound opportunity, but as US stocks plunged, he promptly took profits and exited, retaining only a small spot position.

He believes that the current crypto market trend is already highly dependent on US stock performance. Given his pessimistic attitude toward the subsequent development of the Huang Renxun incident and the outlook for US stocks, he will not consider buying the dip in the short term and will wait for the US stock situation to become clearer.