Jiang Zhuoer: No Bull Market Signs in Funding, Bitcoin May Face Final Drop After Rebounding to $68,000 to $70,000
By: rootdata|2026/08/08 08:33:39
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Prefer us on GoogleOn August 8, Jiang Zhuoer, the founder of the LiBit mining pool, stated that stablecoins continue to flow out of the crypto market. In the past month, the total market capitalization of USDT has decreased from $184.2 billion to $183.1 billion, while USDC has dropped from $73.28 billion to $72.15 billion, totaling a reduction of $2.23 billion. Jiang pointed out that there are currently no signs of a bull market starting in the funding environment, and Bitcoin may rebound to the range of $68,000 to $70,000 at most, after which it may face a final drop following the liquidation of short positions.
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