Jiang Zhuoer Unloads Bitcoin Holdings Amid US Inflation Expectations

Jiang Zhuoer, founder of the BTC.TOP mining pool, has sold all his Bitcoin holdings at $77,226 per coin. The move comes amid rising inflation data from the US and expectations of a Fed interest rate hike.

Jiang had previously expressed optimism about the market, stating he was 90% certain the bear market was over and planning to buy Ethereum (ETH) with his remaining funds. However, he now believes the next Consumer Price Index (CPI) data will have negative consequences for the markets.

The renowned miner expects a 70% probability of a Fed interest rate hike following the latest US Producer Price Index (PPI) data. He is prepared to open a short position in the market if conditions are right, but has not specified further details.