According to ME News, on September 6 (UTC+8), Jiang Zhuo'er, founder of the B.TOP 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 stage of a bull run characterized by widespread distrust and skepticism, with many investors harboring deep fears of a sharp decline. The concentrated liquidation zone near $76,000 on the heatmap is larger than the area 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. (Source: ChainCatcher)
Jiang Zhuoer Predicts BTC Could Drop to $76,000 Liquidation Zone
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Summary
Jiang Zhuoer, founder of B.TOP, said BTC’s price could decline toward a major liquidation zone near $76,000. He noted that the market remains tense despite the recent rally since August 20. The lower zone exhibits stronger magnet effects than the $83,000 level. He sold his BTC at $82,000 the previous day due to this risk. Traders are also monitoring altcoins for potential moves amid uncertainty around BTC’s price.
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