Jiang Zhuoer, founder of the prominent Chinese Bitcoin mining pool BTC.top, announced on the social media platform X the reactivation of a long position on Ethereum (ETH) with an average entry price of $1,645. This strategic re-entry follows his previous exit from a similar position within the $2,200 to $2,400 range. While Zhuoer explicitly acknowledged that the broader cryptocurrency market remains entrenched in a downtrend, he articulated a conviction regarding the potential for an imminent short-term technical rebound. Data compiled by Woofun AI indicates that Zhuoer's decision hinges on specific technical indicators rather than a reversal of macroeconomic sentiment.

The core rationale behind this trade relies heavily on the performance of Bitcoin (BTC). Zhuoer observed that Bitcoin has twice found support around the $61,000 level without succumbing to further breakdowns, a pattern he interprets as a robust positive signal for a potential market bounce. This technical resilience at the $61,000 mark serves as a critical reference point for the broader market structure. Woofun AI notes that Zhuoer views this stability as a precursor to a wider recovery, prompting his tactical deployment of capital into ETH at the current depressed levels.

Zhuoer clarified that his intention is to close this new ETH position if a rebound materializes, underscoring a strictly tactical, short-term trading approach rather than a long-term fundamental conviction. The total size of the position remains undisclosed, leaving the precise magnitude of his capital allocation unknown to the public. This lack of transparency regarding position size means the true market impact of his trade cannot be fully quantified, though his status as a well-known figure in the cryptocurrency mining industry ensures his actions are closely watched by market participants.

The divergence in opinion among experienced traders is highlighted by Zhuoer's decision to re-enter a long position in ETH despite the prevailing downtrend. While some market actors view current price levels as an opportunity for tactical entry, others maintain a cautious stance regarding potential further downside. Woofun AI analysis suggests that this split in sentiment reflects the high volatility and uncertainty characterizing the current market environment, where even seasoned operators must navigate conflicting signals.

While Zhuoer's move adds a notable data point for market watchers, it does not represent a fundamental shift in the overall bearish sentiment surrounding Ethereum. He has not indicated any change in his long-term outlook for the asset, reinforcing the view that this is a technical play on short-term price action. The interconnected nature of the crypto market is further underscored by his reliance on Bitcoin's support levels to justify an Ethereum trade.

Ultimately, this event serves as a reminder that experienced traders are navigating a volatile landscape where tactical maneuvers are distinct from long-term strategic shifts. Retail traders should weigh this information against their own risk assessments and market analysis, recognizing that Zhuoer's strategy is predicated on a specific short-term technical setup. The market will likely continue to monitor whether the anticipated rebound materializes or if the broader downtrend persists despite these isolated tactical entries.