#比特币反弹

Yi Lihua: The crypto market is currently experiencing a bear market rebound

On April 22, Liquid Capital (formerly LD Capital) founder Yi Lihua stated, "The rebound is proceeding as expected, and everyone is discussing the rebound point. This can only be seen step by step. Relative to the new high of the US stock market's S&P 500 and MicroStrategy's strong buying, the current rebound in the crypto market appears relatively weak, clearly showing characteristics of a bear market rebound. These past two days, I’ve been studying MicroStrategy’s risk specifically. Its aggressive financing to buy coins indeed seems effective in the short term, but there could be risks in the medium term, especially during macro financial risk events. We are always preparing for a potential big opportunity. There’s no need to be pessimistic about the crypto market; opportunities have always existed in bear markets. Bull markets are when you happily enter, and you exit when losing money."

The expert’s comments precisely hit the core contradiction of the current cryptocurrency market. Looking at the market data, since Bitcoin reached a historic high of $126k in October 2025, it has been oscillating downward. As of April 20, 2026, the price hovered around $75k, a retracement of over 40% from the high, and it briefly fell below the $60k mark, showing clear signs of a technical bear market.

This week, although Bitcoin broke through the $78,000 level and market sentiment turned to FOMO, we must rationally recognize that this is driven by renewed institutional demand and strong capital inflows into spot Bitcoin ETFs. Funds like BlackRock’s iShares Bitcoin Trust continue to attract large amounts of capital. The total inflow into US spot ETFs has exceeded $56 billion. However, whether this capital is long-term investment or, like experts such as Yi Lihua, is coming in to chase the rebound, is worth pondering.

Since this is a rebound within a bear market and the rebound height has already been quite high, it is advisable for everyone to mainly short at high levels. It’s a familiar strategy: the $78,000 level is an excellent shorting point, with stop-losses set at $79,000 or even above $80,000.

What do you think? Have you shorted? Or are you still bullish? Let’s chat in the comments!