Huoxing Finance reports that on September 6, Jiang Zhuo'er, founder of BTC.com Mining Pool, posted that since BTC's significant rally on August 20, the market has not yet experienced a noticeable correction. The market remains in the early stages of a bull run characterized by widespread distrust and skepticism, with many investors still deeply fearful of a sharp decline. The concentrated liquidation zone near $76,000 on the heatmap is larger than the zone near $83,000 above. He believes the market is more likely to reach the lower liquidation zone, and this "magnetic effect" was the primary reason he sold his entire BTC position at $82,000 the day before yesterday.
Jiang Zhuoer Explains BTC Liquidation Amid Potential Pullback to $76,000
MarsBitShare
Summary
Jiang Zhuoer liquidated his BTC positions at $82,000, citing a potential market pullback to $76,000. He noted that the $76,000 level has more liquidations than $83,000. BTC’s rapid rise since August 20 has yet to experience a major correction. Traders are now monitoring altcoins for signs of profit-taking.
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