Jiang Zhuoer, founder of the Bitcoin mining pool BTC.top and an early figure in China’s cryptocurrency industry, has reversed his previous bearish stance. In a recent statement, he said he is now 90% confident that the bear market has ended and that Ethereum is poised to lead the next market rally, potentially outperforming Bitcoin. He attributed the shift to recent market dynamics and on-chain activity. Jiang plans to begin buying Bitcoin in earnest if it briefly falls below $72,000, or enter the market at current prices by the end of October at the latest. He prefers Ethereum over Bitcoin due to its strong developer ecosystem and upcoming network upgrades, which he believes will drive higher gains despite greater volatility. The crypto market has seen significant turbulence, with Bitcoin falling from its all-time high above $69,000 in November 2021 to a low near $15,500 in late 2022. Prices have since recovered, with Bitcoin trading around $70,000 as of mid-2025.