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Jiang Zhuoer: BTC has fallen below the ascending channel, and the short-selling target has switched from ETH to BTC.

PANews
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PANews July 28 news, Levyte Mining Pool founder Jiang Zuoer said: “After this round is over, I won’t short ETH—I’ll switch to shorting BTC.” He explained that the previous strategy was to stake ETH as WBETH as margin, and short an equivalent amount of ETH in perpetual contracts. This is effectively equivalent to selling spot with no leverage and no liquidation risk, while still preserving the staking interest income and charging the long funding rate. Only a small amount of ETH collateral is needed to reduce exchange risk. The new strategy is to use WBETH as margin, and short an equivalent amount of BTC spot calculated by the exchange rate. Jiang Zuoer judged that BTC has already fallen below the rising channel, while ETH is still near the lower edge of the rising channel. This round’s bear market may repeat the previous pattern where BTC and ETH didn’t bottom at the same time—last time, ETH’s lowest point was on June 18, 2022 (exchange rate 0.05), and BTC’s lowest point was on November 21, 2022 (exchange rate 0.0698). This round, ETH may have already bottomed on June 6, 2026.
BTC-2.57%
ETH-4.08%
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