Yi Lihua: Jensen Huang news continues to weigh on U.S. stocks; no plans to buy the dip in crypto in the short term
Cointime reports that Yi Lihua, founder of Liquid Capital, said on November 14 that Saturday’s decline in the crypto market was mainly driven by the Jensen Huang news. Market expectations for the subsequent performance of U.S. stocks have turned bearish, and a further 30% drop would not be surprising. Until the situation becomes clearer, it would be unwise to assume the market has bottomed. He said that after Bitcoin pulled back to $86,000, he had been watching three key levels: $79,000, $75,000 and $71,000. He bought the dip on the way back up at $77,000, but exited in time to take profits as U.S. stocks plunged, keeping only a small spot position. He believes the crypto market is highly dependent on U.S. stocks and, given his bearish view on Jensen Huang’s return and the outlook for U.S. equities, does not plan to buy the dip in the short term.
Cointime reports that Yi Lihua, founder of Liquid Capital, said on November 14 that Saturday’s decline in the crypto market was mainly driven by the Jensen Huang news. Market expectations for the subsequent performance of U.S. stocks have turned bearish, and a further 30% drop would not be surprising. Until the situation becomes clearer, it would be unwise to assume the market has bottomed. He said that after Bitcoin pulled back to $86,000, he had been watching three key levels: $79,000, $75,000 and $71,000. He bought the dip on the way back up at $77,000, but exited in time to take profits as U.S. stocks plunged, keeping only a small spot position. He believes the crypto market is highly dependent on U.S. stocks and, given his bearish view on Jensen Huang’s return and the outlook for U.S. equities, does not plan to buy the dip in the short term.