Yilihua: The crash was caused by multiple factors, and meme mania drained market liquidity, stifling altcoins.

BlockBeats News, on October 11, Liquid Capital (formerly LD Capital) founder Yi Lihua posted that this is the first time he has fully liquidated his positions (on-chain and transparent) since calling for ETH, whereas previously he only used leveraged lending. There are several reasons he can share:

· First, bitcoin has risen to a new high resistance level, and without significant positive news to break through, a pullback is likely.

· Second, the US stock market is at new highs, and AI and semiconductor companies are playing capital games, which cannot be sustained.

· Third, after Japan changes its prime minister, the risk of interest rate hikes will increase and rates have been rising continuously.

· Fourth, altcoins in the crypto market have been in a prolonged decline, and the MEME frenzy is draining liquidity.