Jiang Zhuoer, the Chinese miner behind BTC.TOP, has made another big call. He now thinks the bear market is done, and he says he is ready to put a large part of his unused reserves into Ethereum. He admitted that his earlier bearish prediction was mostly wrong.
In a recent update, Jiang said he is around 90% sure the market bottom is behind us. He also expects Ethereum to outperform Bitcoin in this cycle. That is a notable shift from someone who had previously expected further downside.
A Series of Trades Over the Past Weeks
Jiang revealed that he already bought back Ethereum he had sold earlier between $1,738 and $1,931. He also set a stop-loss order at $2,100 for that position. Then he sold half of his spot ETH holdings at $2,525 to try to catch a possible market peak. For that trade, he placed a stop-loss at $2,550.
The exact timing of these trades is not fully clear, but one thing stands out. He is trying to balance between riding the rally and protecting his capital if the market turns suddenly.
Reserve Funds Set Aside for Ethereum
The miner also explained his next move. He plans to use roughly 20% to 30% of his reserve funds to buy Ethereum. Those reserves have not yet been released into the market. If Bitcoin drops to the $67,000 to $72,000 range, he says he will use the remaining funds to buy even more ETH.
If Bitcoin does not fall to those levels, Jiang said he will buy Ethereum at the current market price by the end of October at the latest. That tells me he does not want to sit on the sidelines forever. He seems willing to enter regardless of where price is, just with a different size.
Why He Is Still Cautious About Calling the Peak
Jiang noted that the crypto market is in a strong upward trend. He believes the chances of accurately predicting the exact top are relatively low. That is fairly honest for someone who has been trading large amounts. He is positioning for more upside, but he is also using stop-losses to manage risk.
It is also important to remember that Jiang’s track record includes mixed calls. He admitted that his bear market prediction was largely wrong. His current confidence at 90% should be taken with some caution. Market conditions can change quickly, especially with unexpected regulation or macro events.
One more thing: this is one prominent miner’s personal strategy. It is not investment advice. Anyone considering similar trades should do their own research and understand the risks involved.
