Wu said he learned that the founder of the Leptit mining pool, Jiang Zhuoer, posted a statement saying that the current geopolitical situation is going through the U.S.’ “Suez Canal Moment” (an analogy to the 1956 British loss of control over the canal, marking the end of hegemony). The U.S.-Iran war will most likely end with Iran effectively controlling the Strait of Hormuz and charging passage fees—an outcome the U.S. does not legally recognize but effectively accepts. He himself is bearish from the ETH 2242 USD price level. He analyzed that the current bear-market cycle has not yet run its course, and that such event-driven rebounds are opportunities to add and short positions, and he does not rule out the small-probability risk of another outbreak of war.