Liquid Capital founder Yi Lihua said he is not considering buying the dip in the short term and cautioned that the Jensen Huang event may continue to pressure U.S. stocks. According to Odaily, he said the crypto market continued to fall on Saturday, mainly because of the event, and that expectations for the U.S. stock market had turned pessimistic. A further 30% decline in U.S. stocks was possible, he said, adding that it was too early to conclude the market had bottomed before the situation became clearer.

Yi said he had previously identified $79,000, $75,000 and $71,000 as key support levels for Bitcoin after its pullback from $86,000, and bought the dip near $77,000. At the time, Bitcoin’s own price action suggested significant potential for a rebound, he said. But after U.S. stocks plunged, he took profits and exited in time, retaining only a small spot position.

Yi said crypto market movements are now highly dependent on U.S. stocks. Given his pessimistic view of developments related to the Jensen Huang event and the outlook for U.S. equities, he plans to wait for the situation in the U.S. stock market to become clearer before considering buying the dip.