Jiang Zhuoer shifts short position from ETH to BTC, predicts different bottoms for BTC and ETH

iconKuCoinFlash
Share
This is the logo of the coin.
ETH
$2,411.32-2.9%
This is the logo of the coin.
BTC
$76,953.70-1.63%
AI summary iconSummary
Jiang Zhuoer, founder of Bit Mining Pool (B.TOP), announced on July 28, 2026, that he is transitioning his short position from ETH to BTC. He plans to use WBETH as collateral to short BTC, citing diverging support and resistance levels between the two assets. He noted that ETH remains near the lower boundary of its channel, while BTC has broken below its ascending channel. Based on historical cycles, he anticipates ETH to reach a low of $1,505.68 on June 6, 2026, with BTC and ETH likely to bottom at different times due to differing fundamentals and risk-to-reward considerations.

BlockBeats news: On July 28, Jiang Zhuo'er, founder of the B.TOP mining pool, posted that after this market cycle concludes, he will no longer short ETH but will instead short BTC. He will use WBETH as collateral to short an equivalent amount of BTC spot. His reasoning: MSTR is unlikely to increase its BTC holdings for the foreseeable future; BitMine continues to buy ETH; combined with the growth of RWA and other developments, this bear market may mirror the previous one, with BTC and ETH reaching their lowest points at different times.


The previous low for ETH was on June 18, 2022, at $881.56, with BTC at $17,622 and an exchange rate of 0.0500. The previous low for BTC was on November 21, 2022, with ETH at $1,079.76 and BTC at $15,476, yielding an exchange rate of 0.0698. There is a possibility that the current low for ETH occurred on June 6, 2026, at $1,505.68; therefore, we are switching to a short position on BTC. BTC has already broken below its uptrend channel, while ETH remains near the lower boundary of its uptrend channel.

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.