Jiang Zhuoer has issued a warning about Bitcoin's current market state. In a post on X, he said the market is displaying a combination of 'insufficient losses and low volatility,' and argued that traders should not easily bet on the idea that this is an unprecedented 'calm bottom.' Instead, he believes it is more likely a 'breathing phase' during the process of searching for a bottom. He pointed to history: during the 2018 bear market, Bitcoin repeatedly tested support near $6,000, and the market widely regarded that level as an 'iron bottom.' Yet after roughly two and a half months of sideways trading between $6,000 and $7,000, the price eventually fell to around $3,000. Jiang noted that Bitcoin is now consolidating between $60,000 and $70,000 for nearly two months, which he sees as similar to the 2018 $6,000 stage. His warning is that investors should be cautious about the risk of further downside even if the near-term price action looks stable. A flat range, in his view, does not necessarily mean a floor has been set. The 2018 example shows how a widely accepted support level can eventually break. Jiang therefore advises against treating the current quiet spell as proof that the worst is over.
Jiang Zhuoer warned in a post on X that Bitcoin’s latest quieter price action should not be read as a final bottom. He said the market is showing “insufficient losses and low volatility,” and argued traders should not casually bet that this is some unprecedented “calm bottom.” His take? The market is probably in a “breathing phase” while the broader search for a bottom is still going on.
The warning leans on history. Jiang pointed back to the 2018 bear market, when Bitcoin kept testing support around $6,000 and many in the market treated that level as an “iron bottom.” Then came the break. After about two and a half months of sideways trading between $6,000 and $7,000, the cryptocurrency dropped to roughly $3,000.
He says the current setup looks plainly similar. Bitcoin has been consolidating between $60,000 and $70,000 for nearly two months, which mirrors that 2018 stretch around $6,000. And he urged investors to stay alert. Even if things look stable in the short term, further downside is still on the table.
The comparison carries a simple message: range-bound trading does not always mean a lasting floor is in place. Back in 2018, a support level that many people accepted was still broken, and the downtrend picked up again. Jiang’s post says the present two-month range may be heading for that same kind of test.
He did not call a specific direction for prices. But the point of his post is hard to miss: this recent quiet patch is not automatic proof that the worst has passed. So he advises treating the current range as a possible pause inside a bigger downtrend, not as the end of that downtrend.
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