$BTC.TOP founder Jiang Zhuo’er said the US-Iran war is America’s “Suez Canal moment” and revealed a medium-term Ethereum short opened at $2,242.
Jiang Zhuoer, founder of mining company $BTCTOP, who is best known as an early Bitcoin investor in China, said he opened a short position in Ethereum at $2,242, arguing that the US-Iran conflict represents a “Suez Canal moment” for US power and that the current crypto bear market is not over yet. In a post shared on Binance’s Square platform and relayed by Chinese-language media such as PANews and WEEX, Jiang framed his argument by saying that the recent price rally due to war headlines is “every opportunity to add short sellers.” $ETH Bet as a medium-term macro trade rather than quick scalping.
Ethereum ($ETH) was sold off from a local high of over $2,600 in late March as risk assets reacted to soaring oil prices and renewed geopolitical tensions in the Strait of Hormuz, and as of this writing is hovering around the mid-$2,200 range. On TradingView’s ETHUSDT dashboard, the intraday chart shows choppy price action with mixed technical signals and concentration around the $2,200 zone. Although the short-term oscillator is slightly bearish from neutral, the long-term trend gauge still reflects a broad pullback from the 2024-2025 uptrend.
In his memo, Jiang drew a direct line between the U.S.-Iranian war, the seizure of the Strait of Hormuz, and what he sees as a structural weakening of U.S. hegemony. “This is America’s Suez Canal moment,” he wrote, referring to the 1956 crisis in which Britain lost control of the Suez Canal, an episode often cited as the symbolic end of British global domination. Jiang argued that the “most likely” outcome of the current conflict would be for Iran to take effective control of the Strait of Hormuz and collect fees on the flow of oil, something the United States refuses to recognize legally but ultimately acquiesces in practice.
Energy analysis firm Kupler described the new Strait of Hormuz crisis as one that would “reshape global oil markets,” noting in an April 6 briefing that physical supplies were at real risk, production in southern Iraq was being cut, and Iranian exports had already soared to multi-year highs prior to the confrontation. Against this backdrop, Jiang believes that rising energy prices and instability will continue to weigh on risk assets like Ethereum. “The bear market cycle is not over yet,” he said, adding that “every event-driven rebound is an opportunity to increase short positions,” but conceded that another major fight is “unlikely” to occur, suggesting it would put further stress on the market. panewslab+4
Mr. Jiang did not disclose the size of his funding or influence. $ETH Although brief, he noted that this was a “medium-term operation” and compared it to a previous long-term trade in which he bought Ethereum at around $1,850 and closed near around $2,144. Cryptocurrency media outlets such as Finbold highlighted that stance as a very bearish signal from a long-time industry insider, with the publication describing him as a “Chinese billionaire” with a negative stance on investing. $ETH In the short to medium term.
For traders, his framework directly connects Ethereum’s $2,242 discretionary macro short to geopolitical theories about US power, the oil quagmire, and the sustainability of the current crypto downturn. Whether this theory holds true will depend less on Ethereum’s on-chain metrics and more on how the war in and around the Strait of Hormuz develops, and how much volatility energy-driven global markets can absorb.
