The trader cited a more hawkish Federal Reserve outlook, saying 9 of 18 officials expect at least one rate hike this year and that the rate-cut cycle has effectively ended.
Jiang Zhuoer said he has sold 50% of his ETH spot position at around $1,738. He said the decision was based on a more hawkish Federal Reserve outlook: 9 of 18 Fed officials expect at least one rate hike this year, including 6 who expect multiple hikes. On that basis, he argued the rate-cut cycle has effectively ended. He described the move as a medium-term trade and said he is not setting a stop-loss (pre-set sell level to limit losses) for now.