He said Ethereum has nearly retraced its decline since June 2, faces heavy overhead supply, and may see the rebound capped around $2,000.
B.TOP founder Jiang Zhuoer said he sold his remaining 50% ETH spot holdings as Ethereum rebounded to $1,931, completing his exit at an average sale price of $1,834.5. He said ETH has nearly returned to where the decline that began on June 2 started, and argued that heavy overhead supply (investors looking to sell near prior levels) could limit further gains. In his view, the rebound is likely to top out at $2,000.