Jiang Zhuoer, founder of BTC.Top, said he sold the remaining 50% of his ETH spot holdings when Ether reached $1,931, leaving his spot position fully closed. He said the average exit price across the full sale was $1,834.5. In his post, Jiang said ETH’s rapid rebound had nearly returned to the starting point of the current decline on June 2, and that heavy overhead supply from trapped holders remained in place. Based on that view, he estimated the upside for the rebound at around $2,000 and chose to sell. He also stressed that the trade applied only to spot positions, warning that leveraged exposure carries very high risk and saying futures traders should not copy the move.
Jiang Zhuoer, founder of BTC.Top, said in a post that he sold the remaining 50% of his ETH spot holdings when Ether was at $1,931, fully closing out his spot position. He said his average selling price was $1,834.5.
Jiang said ETH’s sharp rebound had moved close to the June 2 starting point of the current downtrend, with substantial overhead supply from trapped holders still above. On that basis, he said he expected the rebound to top out at around $2,000 and decided to sell.
He added that the move applied only to spot trading. Jiang also warned that holding leveraged positions carries very high risk and said he does not recommend that futures traders follow the same approach.
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