LINKLED keeps blinking

I implemented W5500 on a custom PCB. When it’s power on and I plugged in the Ethernet cable, the link LED keeps blinking (roughly stays on for 1 sec then off for 1 sec).
The circuitry is almost the same as the reference schematic (except it doesn’t have 1nF between CGND and GND). Attached below.
Wonder any recommendation on where to debug this issue and if anyone could give a double check on the schematic, that’d be great appreciated !
I checked this post: W5500 LinkLED/AcktLED behaviour - #9 by instalator , since I don’t have the damp resistor, the solution doesn’t apply to my case here.