Short selling statement at 2242 is an inappropriate way to save face, but reducing spot positions is a real move—old miners' instincts are still accurate, whether to follow or not is another matter.

Lbit Mining Pool founder Jiang Zhuoer stated that Ethereum sold 25% of its spot holdings at $2,420, and after liquidating on April 8, a total of 50% of the holdings have been sold, with an average price of approximately $2,331. He also clarified that the statement on April 8 about "shorting Ethereum at $2,242" was inaccurate, and pointed out that Trump is lying, Iran has not opened the Strait of Hormuz, and shipping tracking shows most ships have turned back, leading the market to reprice accordingly.