BTC.TOP founder Jiang Zhuoer says US-Iran war is America’s ‘Suez moment’, reveals Ethereum’s mid-term short trade opened at $2,242.
summary
- Jiang Zhuoer, founder of BTC.TOP, says he shorted ETH at $2,242 and sees all war bounces as opportunities to add to short positions in an incomplete down cycle.
- He describes the conflict between the United States and Iran as a “Suez Canal moment,” and predicts that Iran will effectively control the Strait of Hormuz and reshape oil flows while the United States implicitly accepts this.
- Ethereum is trading at the mid-$2,200s as Jiang links his bearish view to energy-based risk aversion behavior rather than Ethereum’s fundamentals.
Jiang Zhuoer, founder of mining company BTC.TOP and one of China’s most famous early Bitcoin investors, says he opened a short position in Ethereum at $2,242, arguing that the US-Iran conflict represents a “Suez Canal moment” for US power and that the current cryptocurrency bear market is far from over. In a job subscriber On Binance’s Square platform and cited by Chinese media outlets including PANews and WEEX, Jiang wrote that recent price rallies driven by war headlines are “all opportunities to add short positions,” framing his bet on ETH as a medium-term macro trade rather than flash speculation.
Ethereum (Ethereum(Shares are trading near the mid-$2,200 area at the time of writing, after a sell-off from local highs above $2,600 in late March, as risk assets reacted to rising oil prices and renewed geopolitical tensions in the Strait of Hormuz. On ETHUSDT dashboards on TradingView, intraday charts show choppy price action clustered around the $2,200 area with mixed technical signals: Short-term oscillators are leaning neutral to bearish Slightly, while longer-term trend metrics still reflect the broader pullback from the 2024-2025 uptrend.
In his memo, Jiang drew a direct line between the US-Iran war, control of the Strait of Hormuz, and what he sees as a structural weakening of US hegemony. “This is America’s Suez moment,” he wrote, referring to the 1956 crisis in which Britain lost control of the Suez Canal, an incident often cited as the symbolic end of British global hegemony. Jiang said the “most likely” outcome of the current conflict is that Iran will end up effectively controlling the world. Strait of Hormuz And collecting fees on oil flows, with the United States refusing to recognize this legally, but eventually acquiescing in practice.
Energy analytics firm Kpler described the new Strait of Hormuz crisis as one that is “reshaping global oil markets,” noting in an April 6 press conference that physical supply is at real risk, that southern Iraqi production is being curtailed, and that Iranian exports have already risen to their highest levels in several years before the confrontation. Against this backdrop, Jiang believes that higher and more volatile energy prices will continue to put pressure on risk assets such as Ethereum. He wrote that “the bear cycle is far from over” and that “event-driven rallies are all opportunities to add to short positions,” while allowing there to be “a small possibility” of renewed widespread fighting, which he implied would further pressure markets.
Jiang did not disclose the size or leverage of his short trades in ETH, but noted that this is a “medium-term trade,” compared to a previous long trade where he bought Ethereum Around $1850 and closed near $2144. Cryptocurrency outlets like Finbold have highlighted this situation as a blatant bearish signal from a long-time industry insider, with the publication describing him as a “Chinese billionaire” who has turned negative on Ethereum in the short to medium term.
For traders, his framing links an estimated total sell-off in Ethereum at $2,242 directly to a geopolitical thesis about US strength, oil choke points, and the durability of the current downturn in cryptocurrencies. The success of this thesis will depend less on the metrics of the Ethereum chain, and more on how the war unfolds in and around the Strait of Hormuz — and how much energy-driven volatility global markets can absorb.
