Jiang Zhuoer, the founder of BTC.TOP and one of the best-known names in Chinese crypto mining, has changed his tune in a big way. He now says he is 90 percent sure the bear market is over, and he is putting his money where his mouth is. Most of that money, it seems, is going into Ethereum.
A reversal after a wrong call
Earlier, Jiang had predicted more downside. That call appears to have been wrong, and he admitted as much. He now believes the market has likely bottomed. He also thinks Ethereum could outperform Bitcoin in this cycle, which is worth noting because he had sold ETH before.
The details of his recent trades are pretty specific. He bought back ETH that he had previously sold between $1,738 and $1,931. He set a stop-loss at $2,100. Then, after the price moved higher, he sold 50% of his spot ETH at $2,525, trying to catch the peak. He placed a stop-loss at $2,550 for that trade. So he is both long and cautious at the same time, which might sound contradictory. But that’s often how traders operate when they are not sure.
Reserve funds pointed at Ethereum
The bigger signal, perhaps, is what he plans to do next. Jiang says he still has reserve funds that he has not put into the market. He intends to use about 20-30% of that reserve to buy Ethereum. If Bitcoin drops to the $67,000-$72,000 range, he will use the rest to buy more ETH. If Bitcoin does not fall that far, he will buy Ethereum at the current market price by the end of October at the latest.
That is not a vague statement about liking a project. He is essentially saying his remaining dry powder is earmarked for ETH, one way or another. That is a strong position from someone with a mining background, where Bitcoin is usually the anchor asset.
Peak predictions are hard
Jiang also acknowledged that calling the top is difficult. He said the market still has a strong upward trend, so the odds of correctly predicting the peak are low. That might explain why he sold only half of his spot ETH position and kept stops in place. He seems to want upside exposure without being fully exposed if things turn.
Of course, this is not investment advice. Anyone can be wrong, and Jiang himself has already flipped once this cycle. Still, his comments offer a glimpse into how some large Chinese miners are thinking right now. Ethereum, not Bitcoin, appears to be their preferred trade for the next phase.
That is notable. If more miners and old-school crypto figures follow the same logic, ETH could keep attracting attention. But markets have a way of humbling people, so it is worth watching whether his October timeline plays out or gets revised again.
