According to TechFlowPost on June 11, Jiang Zhuoer said that after buying ETH back on June 5, he has sold 50% of his spot ETH position at $1,629. He also stated that the stop-loss price for the trade is $1,710. The disclosure frames the move as part of a swing-trading operation around his ETH holdings.
Conflict escalation cited as the reason for selling
Jiang said the sale was driven by his assessment of rising tensions between the United States and Iran. In his explanation, he said Trump has “run out of options” and may launch a new round of strikes on Iranian infrastructure. He also said Iran may retaliate against oil and gas facilities in Gulf countries and use the Houthi forces to block the Mandeb Strait, further escalating the conflict.
Jiang added that the purpose of the transaction is swing trading aimed at increasing the amount of coins held. He described the specific method as staking ETH into WBETH, then using it as margin to open short positions in perpetual contracts. Under this setup, he said he can sell ETH exposure while retaining staking yield.