Yi Lihua: Jensen Huang Incident Keeps Pressuring US Stocks, No Short-Term Plans to Bottom-Fish Crypto

November 14: Liquid Capital founder Yi Lihua said in an analysis that the crypto market's Saturday decline was mainly driven by the Jensen Huang incident, that market expectations for the subsequent direction of US stocks have turned pessimistic, and that a further 30% drop in US stocks would be quite normal. Before the situation becomes clear, it is unwise to easily conclude that the market has already bottomed.

Yi Lihua said he had previously expected Bitcoin to pull back to $86,000 and then watched three key levels—$79,000, $75,000 and $71,000—buying on the right side at $77,000. From Bitcoin's structure this was fine and there was a chance of a substantial rebound, but as US stocks plunged he took profits and exited in time, keeping only a small spot position.

Yi Lihua believes the crypto market is now highly dependent on US stocks, and given his pessimistic attitude toward Jensen Huang's return and the outlook for US stocks, he is not considering bottom-fishing in the short term.