Jiang Zhuoer Says He Closed BTC Short at $79,480 and Returned to Full ETH Spot Position

LeBit Mining Pool founder Jiang Zhuoer said he opened a BTC short at $82,050 and closed it at $79,480 for profit, then returned to a full ETH spot position while waiting for a rebound. According to Foresight News, he said ETH has led the current bull market, is near its previous high, and may help BTC rise, while ETF net inflows remain strong, including a record $730 million single-day net inflow on September 3. Jiang said he only takes short positions during periods of continued ETF net inflows. He added that if BTC rises to the $83,000 to $84,000 range, he would repeat the short-selling strategy, saying that resistance in that area is unlikely to break in the short term. He also said he is still waiting for a larger pullback. If BTC falls to the $71,255 to $73,361 range, which he described as the Fibonacci 50% to 61.8% retracement zone, he will buy back fully. Otherwise, he plans to buy back before the end of October. Jiang also referred to two earlier timing calls, including shorting ETH at $2,525 on August 22 and shorting BTC at $82,050 on September 4. He said his current approach of trading without leverage and buying or selling with full positions has been effective.