Ethereum Outperforms Bitcoin as BTC.TOP Founder Sees Shift in Crypto Cycle

Jiang Zhuoer, founder of Chinese mining pool BTC.TOP, has reversed his bearish call on Ethereum and now expects it to outperform Bitcoin during the current crypto cycle. This shift follows a costly short trade, where he sold ETH between $1,738 and $1,931 and positioned for further declines, only to close those bets at a loss after Ether moved above $2,000.

He later repurchased ETH near $2,100 and said he is now roughly 90% confident that the broader crypto bear market has ended. Jiang's bullish case centers on the ETH/BTC ratio, which measures Ether's performance directly against Bitcoin. Ethereum has recently shown renewed relative strength after years of underperformance.

Coinpaper's recent ETH/BTC analysis highlighted a break above a long-term downtrend, with the 0.03 level emerging as an important threshold for further gains. Jiang plans to deploy his remaining capital into Ethereum if Bitcoin falls back toward $67,000, $72,000. If that pullback does not happen, he said he intends to complete his ETH purchases by the end of October.

Institutional flows are strengthening the case for Ethereum. US spot Ethereum ETFs recently attracted about $220.8 million in a single session as ETH climbed above $2,400. The latest ETF inflows coincided with a roughly 29% weekly gain in Ether.