Yi Lihua: No Short-Term Bottom-Fishing, Warns of Jensen Huang Event's Continued Impact on US Stocks

Odaily News: Liquid Capital founder Yi Lihua posted that the crypto market continued to decline on Saturday, which he believes was mainly affected by the Jensen Huang event, 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 not advisable to easily judge that the market has bottomed out.

Yi Lihua stated that he had previously listed $79,000, $75,000, and $71,000 after BTC's pullback from $86,000 as three key support levels, and entered to buy the dip near $77,000. At that time, judging from Bitcoin's own trend, the market had a relatively large 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 highly dependent on the performance of US stocks. Given his pessimistic attitude toward the subsequent development of the Jensen Huang event and the outlook for US stocks, he will not consider bottom-fishing in the short term and will wait for the US stock situation to become clearer.