Key Highlights
- BTC.TOP founder Jiang Zhuoer has repurchased all Bitcoin positions he sold at $77,226, marking a swift strategic reversal.
- The prominent Chinese miner cites persistent strong buying pressure and now projects Bitcoin will climb to the $80,000–$84,000 range.
- The turnaround follows legislative headwinds for the U.S. CLARITY Act and a reassessment of macroeconomic risk factors.
BTC.TOP Founder Reverses Course Amid Market Strength
Jiang Zhuoer, the well-known Chinese cryptocurrency miner and founder of mining pool BTC.TOP, announced that he has fully repurchased the Bitcoin holdings he liquidated just days earlier. In a recent statement, Jiang explained that buying pressure in the spot market remains robust, leading him to adopt a renewed bullish outlook. He now anticipates that Bitcoin will surpass the $80,000 threshold and advance toward $84,000 in the near term.
Previous Bearish Stance Driven by Macro Concerns
The reversal is notable for its speed. Only recently, Jiang disclosed that he had sold 100% of his Bitcoin position at $77,226. At that time, he pointed to U.S. inflation data and the prospect of a Federal Reserve interest rate hike as primary catalysts for a potential market downturn. Jiang explicitly stated he was prepared for further declines and signaled a willingness to open short positions if conditions warranted.
CLARITY Act Hurdles and Renewed Bullish Conviction
Jiang’s latest commentary links the initial sell-off to obstacles encountered by the CLARITY Act, a piece of U.S. legislation aimed at providing regulatory clarity for digital assets. With those legislative headwinds persisting, Jiang appears to have concluded that structural demand for Bitcoin outweighs the macroeconomic risks he previously emphasized. His assessment that buyers remain dominant in the current market structure underpins the new price target of $80,000 to $84,000.
Why This Matters
Jiang Zhuoer is a closely watched figure in the crypto mining and trading community, and his public position changes often serve as a sentiment barometer for Chinese-market participants. His rapid flip from a full exit back to a long stance underscores the volatility of market narratives driven by U.S. policy developments—specifically the progress of the CLARITY Act—and shifting expectations around Federal Reserve monetary policy. For traders and institutional observers, the episode highlights how quickly on-chain and derivative positioning can realign when perceived regulatory risk intersects with visible spot-market demand.
Frequently Asked Questions
- At what price did Jiang Zhuoer originally sell his Bitcoin?
- Jiang sold 100% of his Bitcoin position at $77,226.
- What is Jiang Zhuoer’s new price target for Bitcoin?
- He expects Bitcoin to rise to the $80,000–$84,000 range.
- What prompted Jiang’s initial decision to sell?
- He cited U.S. inflation data, the possibility of a Federal Reserve rate hike, and obstacles facing the CLARITY Act as reasons for his bearish stance.
This is not investment advice.
