Liquid Capital founder Yihua Yi said in a post that Republicans are likely to lose control of both chambers, with Texas also looking increasingly uncertain. Based on that view, he said U.S. equities may continue to pull back. Yi also commented on Bitcoin, saying it had originally shown a need for a rebound during a 40-day correction window, but that the Binance black swan event and Trump losing the midterm election changed the setup, leaving Bitcoin short of what he described as the best correction level. Even so, he said Bitcoin has remained notably resilient compared with U.S. stocks. In his view, the asset is still in a bull-market trend and has held up well despite what he described as an external backdrop filled with negative factors.
According to ChainCatcher, Liquid Capital founder Yihua Yi said in a post that Republicans are likely to lose both chambers, while Texas, a key state, is also in a precarious position. Under that scenario, he said U.S. stocks may continue to pull back.
Yi said Bitcoin had originally shown demand for a rebound during a 40-day correction range. But with the Binance black swan event and Trump losing the midterm election, he said Bitcoin has still not reached the most favorable level for that correction.
He added that, relative to U.S. equities, Bitcoin has been quite resilient while remaining in a bull-market trend, especially with external conditions fully tilted negative.
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