CEO, Chinese Billionaire, Unveils His Bitcoin Price Prediction for This Weekend

cryptonews.ruPublished on 2026-08-28Last updated on 2026-08-28

Abstract

Recent declines in Bitcoin (BTC) and Ethereum (ETH) prices have revived expectations of a short-term market downturn. Jiang Zhuoer, founder of Lebit Mining Pool (B.TOP), noted that both major cryptocurrencies have fallen below their uptrend channels, sending a negative technical signal. He highlighted that the closure of US ETF markets over the weekend temporarily removed potential buying pressure from institutional spot ETF investors. Zhuoer warned that current conditions are unfavorable for long positions and could signal the start of a new market downtrend. Meanwhile, Coinglass data suggests significant liquidation risks: if Bitcoin falls below $76,000, long position liquidations could reach approximately $797 million. Conversely, a rise above $80,000 could trigger short position liquidations of around $708 million. This is not investment advice.

The recent decline in the prices of Bitcoin (BTC) and Ethereum (ETH) has revived expectations of a short-term downturn in the cryptocurrency market. Jiang Zhuoer, the founder of Lebit Mining Pool, also known as B.TOP, noted that both major cryptocurrencies have fallen below their upward price levels.

Jiang Zhuoer stated in a social media post that the downward break of Bitcoin and Ethereum's upward channels sends a negative signal from a technical perspective. Zhuoer also noted that the closure of ETF markets in the U.S. over the weekend has temporarily removed potential pressure from institutional buyers on spot Bitcoin and Ethereum ETFs.

The prominent figure claimed that current conditions are unfavorable for long-position investors and warned of a possible start of a new downtrend in the market.

On the other hand, Coinglass data indicates that Bitcoin's price may face significant liquidation surges in the near term.

According to the data, if Bitcoin's price falls below $76,000, the total liquidation volume of long positions on major centralized cryptocurrency exchanges could reach approximately $797 million.

Conversely, it is claimed that if Bitcoin stabilizes and rises above $80,000, there could be pressure on short position liquidations on centralized exchanges of approximately $708 million.

*This is not investment advice.

end-content

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Related Questions

QAccording to the article, who gave a price prediction for Bitcoin over the weekend and what is their background?

AThe price prediction was given by Jiang Zhuoer, the founder of Lebit Mining Pool (also known as B.TOP), who is described as a CEO and Chinese billionaire.

QWhat technical signal did Jiang Zhuoer say was sent by Bitcoin and Ethereum breaking below their ascending price channels?

AJiang Zhuoer stated that the downward breakout of Bitcoin and Ethereum's ascending channels sent a negative signal from a technical point of view.

QWhy does the article suggest that the closure of US ETF markets over the weekend might be temporarily significant for Bitcoin and Ethereum spot ETFs?

AIt temporarily removed potential buying pressure from institutional investors on Bitcoin and Ethereum spot ETFs, as they would not be active during the market closure.

QWhat does Coinglass data indicate could happen if Bitcoin's price falls below $76,000?

AIf Bitcoin's price falls below $76,000, the total liquidation volume of long positions on major centralized cryptocurrency exchanges could reach approximately $797 million.

QWhat is the approximate potential short position liquidation pressure mentioned if Bitcoin rises above $80,000?

AIf Bitcoin strengthens and rises above $80,000, there could be pressure for the liquidation of short positions on centralized exchanges amounting to approximately $708 million.

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