Jiang Zhuoer, founder of $BTC.TOP and a recognized figure in China’s cryptocurrency mining sector, has shifted his previously bearish view on the crypto market after recent strong price rebounds. Jiang reported he is now about 90% confident that the broader bear market has ended, following Bitcoin’s rapid approach to $79,500 and Ethereum’s relative outperformance.
Jiang Zhuoer adjusts strategy after market rally
Jiang’s reversal comes after a series of trades that contradicted his earlier cycle-based predictions. Initially, he sold his Ethereum holdings at levels between $1,738 and $1,931 when he anticipated a further downturn. After witnessing renewed market strength, he bought back in around $2,100, acknowledging that his bearish expectations were not playing out.
Jiang observed that his earlier bearish outlook was “way off” and expressed increased confidence in a continued recovery, noting that his recent moves have been driven by adapting quickly to new market conditions rather than holding on to a fixed forecast.
As Ethereum’s price moved higher, Jiang sold half of his spot Ether position near $2,525, setting a stop around $2,550. This sequence of trades illustrated a more nimble approach, with Jiang now preferring to react to real-time developments instead of adhering strictly to previous projections.
Jiang has reportedly kept between 20% and 30% of his planned capital allocation on hold, suggesting a readiness to re-enter if the market presents new opportunities. He stated that a further purchase of Ether is possible if Bitcoin falls to the $67,000–$72,000 range. If that threshold is not reached, Jiang plans to deploy his remaining funds by late October. Some translations have created ambiguity about whether the planned purchases would focus on Bitcoin or Ethereum, but the overall strategy signals a shift to a more opportunistic stance.
Mini dictionary: $BTC.TOP – A large cryptocurrency mining pool and mining service provider established in China, offering global Bitcoin and altcoin mining solutions for institutional and individual investors.
Ethereum’s strength and ETF inflows support market rebound
Ethereum’s resurgence has been a central theme in Jiang’s revised outlook. Market analysts at Bernstein highlighted Ether’s relative outperformance, linking it to increased activity surrounding stablecoins, tokenization projects, and real-world asset integration.
Institutional demand also appears robust. U.S. spot Bitcoin ETFs attracted approximately $1.6 billion in inflows through Thursday, with $606.3 million in new capital coming in on that day alone. This pace of inflows is seen as a sign of sustained spot demand amid an improving liquidity environment.
The recovery has not solely relied on spot inflows. On August 19, more than $2.75 billion in short positions linked to Bitcoin were liquidated, catalyzing the move above $70,000 and illustrating the impact of leveraged position unwinding on price action. Ongoing inflows into Bitcoin ETFs during this period also suggest a reinforcing effect between institutional demand and market structure.
Improved liquidity conditions have coincided with U.S. Treasury buybacks of longer-term government debt and evolving crypto policy measures. These factors contributed to a stronger setting for digital assets to recover from recent lows.
Jiang’s current approach demonstrates a pronounced shift from fixed-cycle forecasts to adaptive execution, maintaining a core capital reserve while capitalizing on spot market strength and emerging trends in Ethereum and Bitcoin demand.
For market participants, observers suggest that a combination of persistent Ethereum outperformance, robust spot inflows, and continuing ETF demand could serve as indicators of a durable uptrend. Meanwhile, Jiang’s outlook reveals how swiftly market sentiment—and trading strategy—can pivot in response to structural changes.
