Svmuu News: Jiang Zhuo'er, founder of the Laibit mining pool, posted that he had sold the remaining 50% of his ETH spot holdings when the price was $1,931. He has now completely liquidated his ETH spot positions, with an average selling price of $1,834.5.
Jiang Zhuo’er explained that ETH had rebounded rapidly and was approaching the starting point of this downtrend on June 2. With a significant amount of trapped positions above that level, he anticipated that the rebound would likely cap at around $2,000, which is why he chose to sell. He also cautioned that these strategies apply only to spot trading; leveraged positions carry higher risks, and he does not recommend that futures traders follow suit.