Jiang Zhuo'er: No Longer Shorting ETH, Switching to Shorting BTC, Expects BTC and ETH to Bottom at Different Timeframes
BlockBeats News, July 28, Bit.cc Mining Pool (B.TOP) founder Jiang Zhuo'er stated in a post that in this round of the market cycle, he will no longer short ETH but will instead short BTC. He will use WBTC as collateral to short an equivalent amount of BTC spot. The reason is: MicroStrategy can foresee that they will not be accumulating more BTC for a long time in the future; BitMine is still buying ETH; combined with the development of RWA, this bear market round may repeat the last one, with BTC and ETH reaching their lowest points at different times.
In the last cycle, the lowest point for ETH was June 18, 2022, with ETH at $881.56 and BTC at $17,622, a rate of 0.0500. The last BTC low was on November 21, 2022, with ETH at $1,079.76 and BTC at $15,476, a rate of 0.0698. In this cycle, there is a possibility that on June 6, 2026, ETH will be at $1,505.68, the lowest point, so the decision was made to short BTC instead. BTC has already broken below the uptrend channel, while ETH is still at the lower edge of the uptrend channel.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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