Haciyev Reşit 
Despite the recent flow of positive news in the cryptocurrency market, the lack of the expected price rally has raised questions among investors. Increasing institutional purchases, large companies accumulating Bitcoin, and optimistic statements from leading figures in the industry have not been enough to prevent the market from remaining weak and volatile. Jack Yi, founder of Liquid Capital, shared a comprehensive assessment of this contradictory picture.
Positive News Is There—So Why Aren’t Prices Responding?
According to Jack Yi, there is no single reason behind the current stagnation in the crypto market. Yi notes that the most common question he has encountered in recent conversations with investors is:
“Despite large purchases, institutional players like MicroStrategy and BMNR accumulating Bitcoin, and Binance founder CZ talking about a super bull cycle, why do prices remain weak?”
Yi explains that the answer lies in the fact that the market is facing multiple sources of pressure at the same time. While institutional buying supports long-term confidence, short-term macroeconomic uncertainties, investor psychology, and shifts in capital flows can limit upward price movement. As a result, the current environment reflects a complex market dynamic that cannot be explained by a single factor.
Psychological Pressure and Macro Factors
Yi highlights the impact of four-year cycles on the crypto market, emphasizing that the sharp downturn on October 10 created lasting psychological pressure on investors. In addition, factors such as:
- Interest rate hikes in Japan,
- The U.S. refraining from new purchases under its Bitcoin strategic reserve plans,
- Selling pressure driven by short-position holders,
- Risk-averse capital shifting toward gold, silver, and equities
have all limited upward momentum in crypto prices. According to Yi, strong rallies in gold and silver in particular have contributed to crypto markets appearing relatively weak, negatively affecting investor sentiment.
Positive Signals That Should Not Be Overlooked
Despite these challenges, Yi does not agree that the market is fundamentally weak. He views Ethereum’s stable and sideways movement around the $3,000 level not as a typical pullback, but as a strong shakeout and consolidation phase. According to Yi, such periods often mark critical stages where weaker hands exit the market and stronger investors build positions.
Yi summarizes this view as follows:
“Ethereum holding at these levels indicates that the market is building strength ahead of a new rally.”
Recalling that positions were closed around the $4,500 level previously, Yi argues that current market conditions offer a strategic opportunity for re-entry from a risk–reward perspective. This view underscores that medium- and long-term opportunities should not be overlooked despite short-term uncertainty.
Assessment
Jack Yi’s analysis shows that the current stagnation in the crypto market cannot be explained solely by positive or negative news flow. According to Yi, the weak appearance is the result of a combination of factors, including investor psychology, macroeconomic uncertainty, and capital rotating across different asset classes. This makes it difficult for the market to establish a clear short-term direction. While a volatile and cautious trend may persist in the near term, the price stability and sideways movement observed particularly on the Ethereum side point to a strong consolidation phase in the broader market.
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