Yi Lihua may have become the most well-known "veteran" in the Chinese cryptocurrency market targeted in this round of sharp decline.

In the first four days of February, he sold about 190,000 Ethereum and paused selling on February 5, holding 460,000 Ethereum at that time. On February 4, Yi Lihua stated, "I am optimistic about this round of bull market, now is the best time to buy spot."

Just three days later, Yi Lihua no longer insisted on his views and began to accelerate the sale of Ethereum held by his fund Trend Research.

On February 6, Yi Lihua may have decided to give up resistance, selling off the remaining 440,000 Ethereum in one go, during which nearly 60,000 Ethereum were sold between 9 PM and 12 AM that night.

It is reported that Yi Lihua appeared near Causeway Bay in Hong Kong on the afternoon of the 6th and stayed until around 10 PM before leaving. Yi Lihua on site did not show any unusual behavior. However, at the same time, his team was executing a rapid liquidation action.

In addition, sources revealed that a fund in Hong Kong began to enter the market for bottom fishing on February 6, with specific scale still unknown. Most users no longer deny the arrival of a new round of winter in the cryptocurrency market,

but a more optimistic community view believes that this round of winter may end faster than before.