Jack Yi takes profit on BTC longs, eyes buying more on further dips

LD Capital founder Jack Yi said he remains bullish despite market volatility and has taken profit on his BTC long positions while looking to buy more at lower levels. Yi said he had held off on buying the dip after expecting a stock-market decline as Democrats appeared to have the upper hand in the U.S. midterm elections. He added that he later chased the rebound and bought BTC near $77,000. After BTC stabilized at $80,300, Yi judged that the uptrend had resumed, but BTC then fell further alongside declines in U.S. stocks. He said the long positions were closed for profit, while his spot holdings remain underwater. Yi added that risk management is important because short-term swings are hard to predict, and said he will watch macro conditions including the U.S. stock market and oil market before seeking additional buying opportunities on dips.