Leibit mining pool founder Jiang Zhuoer sold his remaining spot Ether position when the cryptocurrency reached $1,931. The full liquidation occurred at an average price of $1,834.50 per token.
Jiang cited the rapid recovery in Ether prices, which had approached levels from early June, combined with substantial resistance overhead. He projected a potential near-term ceiling around $2,000, which influenced the decision to exit. The strategy was limited to spot holdings, with a warning that leveraged trading involves significantly higher risks and should not be emulated by futures participants.
The sale follows earlier transactions in which Jiang repurchased his full Ether position at $1,645 during a market decline on June 5 and offloaded half of his spot holdings at $1,629 on June 11. The moves reflect active portfolio management amid volatile conditions in digital asset markets.
Jiang cited the rapid recovery in Ether prices, which had approached levels from early June, combined with substantial resistance overhead. He projected a potential near-term ceiling around $2,000, which influenced the decision to exit. The strategy was limited to spot holdings, with a warning that leveraged trading involves significantly higher risks and should not be emulated by futures participants.
The sale follows earlier transactions in which Jiang repurchased his full Ether position at $1,645 during a market decline on June 5 and offloaded half of his spot holdings at $1,629 on June 11. The moves reflect active portfolio management amid volatile conditions in digital asset markets.