BTC.top Founder Sells Half His ETH Holdings as Bitcoin Rally Faces First Test

BitcoinWorld BTC.top Founder Sells Half His ETH Holdings as Bitcoin Rally Faces First Test Zhuoer Jiang, founder of mining pool BTC.top and a prominent figure in China’s crypto industry, said he sold half of his spot Ethereum holdings.

The move comes as Bitcoin’s rally encounters its first significant resistance, with spot Bitcoin ETFs recording their first net outflows in over a week.

Market Signals: ETF Flows and Fed Hawkishness Jiang highlighted that Bitcoin spot ETFs saw $202 million in net outflows on Friday, ending a nine-day streak of inflows. This shift suggests short-term profit-taking and a potential cooling of buying demand.

In contrast, Ethereum spot ETFs maintained $102 million in net inflows, indicating relatively stronger investor appetite for ETH compared to BTC.