Jiang Zhuo'er, founder of mining pool B.TOP, explained his full Bitcoin sell-off on September 6, citing a 'magnetic effect' from a larger liquidation cluster near $76,000. He noted that since the August 20 rally, the market has not seen a significant correction, and many investors remain fearful of a crash. The heatmap data shows the lower liquidation zone is notably larger than the upper one near $83,000, making a drop to $76,000 more likely. Jiang sold all his BTC at around $82,000 two days prior, pointing to this magnetic pull as the primary reason.
Jiang Zhuo'er Explains BTC Liquidation: Magnetic Effect Points to $76K
On September 6, Jiang Zhuo'er, the founder of mining pool B.TOP (Lubit Mining Pool), said he had sold his entire Bitcoin position two days earlier at roughly $82,000. His reason was what he called a "magnetic effect," which, in his view, makes the market more likely to move toward the bigger liquidation cluster near $76,000.
No Correction Since August Rally
Jiang said Bitcoin has not gone through a meaningful pullback since its sharp rally on August 20. In his view, the market is still in the early phase of a bull run marked by distrust and skepticism, while many investors are worried about a brutal crash. Heatmap data, he said, shows the liquidation zone near $76,000 is much larger than the one around $83,000. So Jiang thinks the market is more likely to reach the lower liquidation area, and that magnetic effect was the main reason he exited his position in full.
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