Chinese Crypto OG Says Bear Market Likely Over, Sees ETH Leading Next Rally

Jiang Zhuoer, founder of the Bitcoin mining pool BTC.top and a well-known early figure in China’s cryptocurrency industry, has reversed his previous bearish stance. In a recent statement, he said he is now 90% confident that the bear market has ended and that Ethereum (ETH) is poised to lead the next market rally, potentially outperforming Bitcoin (BTC).

From Bearish to Bullish: A Notable Shift

Jiang had earlier expressed caution about the market’s direction, but his latest comments mark a significant change in outlook. He attributed his revised view to recent market dynamics and on-chain activity, though he did not disclose specific metrics. His confidence level of 90% suggests a strong conviction, but he also acknowledged the possibility of a short-term pullback.

Jiang outlined a clear entry strategy: he plans to begin buying in earnest if Bitcoin briefly falls below $72,000. Even if such a correction does not occur, he expects to enter the market at current prices by the end of October at the latest. This indicates a disciplined approach, balancing patience with the risk of missing further upside.

Why Ethereum Could Lead the Next Rally

Jiang’s preference for Ethereum over Bitcoin is notable, as many market participants traditionally view BTC as the safer bet during bull runs. He believes ETH’s fundamentals, including its active developer ecosystem and upcoming network upgrades, position it for stronger gains. Historically, Ethereum has shown higher volatility and beta to Bitcoin, meaning it can rise faster in bullish phases, though with greater risk.

His view aligns with a broader narrative in the crypto community that the next cycle may see alternative cryptocurrencies, particularly those with strong utility, outperform the market leader. However, such predictions are speculative, and investors should consider the inherent volatility and regulatory uncertainties.

Market Context and Implications

The crypto market has experienced significant turbulence over the past year, with Bitcoin falling from its all-time high above $69,000 in November 2021 to a low near $15,500 in late 2022. Since then, prices have recovered, with Bitcoin trading around $70,000 as of mid-2025. Jiang’s comments come at a time when institutional interest is growing, and the market is closely watching for signals of a sustained bull run.

For retail and institutional investors, Jiang’s perspective adds to the chorus of voices suggesting that the worst may be over. However, it is essential to remember that even seasoned industry figures can be wrong, and market conditions can change rapidly. The $72,000 level he mentioned is a key technical support zone, and a break below could signal further downside.

Conclusion

Jiang Zhuoer’s reversal from bearish to bullish is a noteworthy development in the crypto space, given his long-standing influence in the Chinese mining community. His confidence in Ethereum leading the next rally and his planned entry strategy provide a clear, actionable framework for traders. While no one can predict the future with certainty, his 90% confidence level suggests a strong conviction that the bear market is indeed over. As always, investors should conduct their own research and consider their risk tolerance before making any decisions.

FAQs

Q1: Who is Jiang Zhuoer?
Jiang Zhuoer is the founder of BTC.top, one of the largest Bitcoin mining pools, and an early and influential figure in China’s cryptocurrency industry.

Q2: Why does Jiang believe the bear market is over?
He did not provide specific data, but his confidence is based on recent market dynamics and on-chain activity, which he believes indicate a shift in trend.

Q3: What is Jiang’s entry strategy?
He plans to buy if Bitcoin briefly drops below $72,000, or by the end of October at current prices if no such correction occurs.