BTC.top founder reopens ETH long position at $1.6K

Jiang Zhuoer, founder of the Chinese Bitcoin mining pool BTC.top, announced on X that he has reopened his Ethereum (ETH) long position at an average entry price of $1,645. He had previously closed the position in the $2,200 to $2,400 range. Zhuoer added that while the market remains in a downtrend, he believes there is demand for a short-term technical rebound, noting that Bitcoin has twice found support around the $61,000 level without further declines. He plans to close the new position again if a rebound occurs. The total size of the position was not disclosed.