JackYi: Patiently wait for the bottom-fishing opportunity—the upcoming period may be the most panic-stricken phase for the cryptocurrency market.

JackYi (@Jackyi_ld), founder of Liquid Capital, stated that this rally has essentially ended, and the market may now be entering its most fearful phase—investors who bought BTC at high prices could face a final major selloff. He identified five crises currently confronting the crypto industry: waning interest among young people; traditional capital flowing primarily into the AI sector; repeated invalidation of crypto narratives; celebrities entering the space to cash in and then exiting; and a lack of innovation and infrastructure development from industry leaders. On the macro front, potential headwinds include the risk of a U.S. equity market correction from elevated levels, oil-price-driven disruptions to inflation expectations, and a notable rebound in U.S. Treasury yields.