Jiang Zhuoer Says He Sold All DeFi Small-Cap Tokens and Is Pausing Trading

According to ChainCatcher, Jiang Zhuoer, founder of the BTC.TOP mining pool, said he sold all his DeFi small-cap holdings during this morning’s rebound and now has a hedged, neutral position. He said the morning decline nearly reached the invalidation level of about $61,576 cited in his previous article, potentially undermining his view that the market was in the early stages of a bull run. The drop also easily broke below the $63,853 point of control and the $64,100 Fibonacci 78.6% level, both of which he had expected to provide support. Jiang said that if the market confirms it is in the late stages of a bear market and falls below $57,800, DeFi small-cap tokens could face steeper losses. He said he closed the positions while losses remained manageable, acknowledged a serious error in his medium-term market call, and decided to take a break from trading.