BTC.TOP Founder Bets on Ethereum to Outperform Bitcoin

BTC.TOP founder Jiang Zhuoer has reversed his bearish crypto market outlook and is now betting heavily on Ethereum, predicting ETH could outperform Bitcoin during the current market cycle.

The prominent Chinese Bitcoin miner previously sold Ethereum between $1,738 and $1,931 and opened short positions to protect against further declines. However, ETH’s rapid recovery above $2,000 forced Jiang to close those positions at a loss and repurchase Ethereum near $2,100.

He later sold roughly half of his spot ETH holdings around $2,525 while attempting to capture a short-term market peak. Despite continuing to trade actively, Jiang said he is now about 90% confident that the crypto bear market has ended, acknowledging that his earlier bearish forecast was significantly off target.

Jiang currently holds around 20% to 30% of his intended investment capital in USDT while waiting for another entry opportunity. If Bitcoin falls back into the $67,000-$72,000 range, he plans to deploy all remaining funds into Ethereum. If that correction does not occur, Jiang intends to buy ETH at market prices by the end of October.

His bullish Ethereum outlook is largely based on the strengthening ETH/BTC ratio. Jiang believes the move reflects genuine demand for Ethereum rather than investors simply rotating capital away from Bitcoin.

He also pointed to growing U.S. government support for blockchain technology under the Trump administration and the accelerating tokenization of traditional assets such as stocks and bonds. These trends could benefit smart-contract networks, particularly Ethereum.

Jiang suggested a scenario in which Bitcoin reaches $200,000 while the ETH/BTC ratio climbs to 0.1, potentially putting Ethereum at $20,000. He stressed that these figures were rough estimates rather than calculated price targets.

BitMine’s Tom Lee has expressed a similar bullish Ethereum thesis, citing improving ETH/BTC technical momentum, tokenization growth and potential demand from agentic AI applications.

Ethereum’s recent performance supports that argument. As of August 23, ETH had gained approximately 30% over the week, rising from around $1,880 to $2,420. Bitcoin climbed roughly 22% during the same period, moving from about $63,000 to $77,050.