Jiang Zhuoer: Has liquidated DeFi small-cap tokens and recently suspended trading

The founder of Liebit Mining Pool, Jiang Zhuoer, stated that taking advantage of today's early rebound, he has liquidated all holdings of DeFi small-cap tokens. The current position is a hedged neutral position.

He pointed out that the early morning decline nearly reached the invalidation level mentioned in his article yesterday (around $61,576), which could invalidate the judgment that "we are currently in the early stage of a bull market." The speed of the decline exceeded expectations, and the previously thought support levels, the POC (Point of Control) at $63,853 and the Fibonacci 78.6% level at $64,100, were both easily breached.

Jiang Zhuoer stated that if the market confirms it has entered the "end of the bear market" and falls below $57,800, DeFi small-cap tokens will face greater declines. Therefore, he decided to liquidate all positions while the current losses are still manageable. He admitted that this mid-term judgment error was quite serious and decided to take a break for a while and pause trading.