According to ME News, on September 11 (UTC+8), Jiang Zhuo'er, founder of the B.TOP mining pool, posted that he had sold 100% of his BTC position at $77,226. Yesterday, Jiang Zhuo'er stated that after the release of the latest U.S. PPI data, the probability of a Fed rate hike rose to 70%, and he expects tomorrow’s CPI data to also be unfavorable, having prepared to short the market. (Source: BlockBeats)
Jiang Zhuoer Sells Entire Bitcoin Position at $77,226 Amid Rising Odds of Fed Rate Hike
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Summary
Jiang Zhuoer sold his entire Bitcoin position at $77,226 on September 11, citing increased odds of Fed rate hikes. He had previously adjusted his position size based on U.S. PPI data, which raised the probability of a hike to 70%. With CPI data expected to remain weak, he shifted to a short position as part of his position trading strategy.
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