Jiang Zhuoer: BTC May Currently Be in a 'Breather Phase' of Bottoming, Not a 'Calm Bottom'
2026.08.09 19:05:10
Jiang Zhuoer, founder of Leibit Mining Pool (BTC.TOP), wrote in an article that Bitcoin’s previous three major bottoms were all marked by “high losses and large volatility,” while the current market is characterized by “insufficient losses and low volatility.” He argues that instead of betting this is an unprecedented “calm bottom,” it should be viewed as a “respite phase” during the bottom-testing process. Taking the 2018 market cycle as an example, BTC’s $6,000 threshold was tested multiple times back then and was widely seen by investors as a floor that would not be breached. BTC sideways traded in the $6,000–$7,000 range for roughly two and a half months before dropping below that level, a pattern similar to the current two-month sideways consolidation in the $60,000–$70,000 range, after which the price plummeted to $3,000.
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