Most people believe a mining pool founder's public buy plan is a signal of conviction. It is not. It is a liquidity map drawn by someone who has already priced in the panic of those waiting on the sidelines.
On August 23, Jiang Zhuoer, founder of B.TOP mining pool, published a market thesis that deserves more than a cursory read. His core argument is simple: the market is consolidating, FOMO will grow, and those waiting for a deeper correction will be left behind. He offers two plans. Plan A: buy the dip at $67,000-$72,000. Plan B: buy before the end of October, regardless of price, because missing the entire bull cycle is worse than missing a few percentage points of current gains.
This is not analysis. This is a psychological operation disguised as a trading strategy.
Let me be clear about what Jiang is actually doing. He is not predicting the future. He is modeling the behavior of a specific cohort: the historical-data-chasers who have been waiting for a retest of previous cycle lows. His thesis explicitly acknowledges that this cycle's time and drawdown structure differ from the previous three. Yet he still anchors his Plan A to a specific price range. Why? Because he knows that range is where the stop-losses and liquidation cascades are clustered. He is not buying the asset. He is buying the liquidity event that occurs when that range is triggered.
This is the first structural flaw in his framework. He admits the historical analogy is broken, then builds his entire entry strategy on that broken analogy. The $57,800 bottom he references is not a technical level. It is a narrative level, reinforced by repeated mentions in Chinese crypto media. The ledger does not care about narratives. It only records the flow of capital.
Based on my 2020 DeFi liquidity stress tests, I can tell you that the $67,000-$72,000 range is not a support zone. It is a liquidity pool. When price enters that range, it will trigger a cascade of long liquidations that will push price through the range faster than any spot buyer can absorb. Jiang's Plan A is not a buy plan. It is a description of where the market will experience its next violent flush.
The real signal in Jiang's post is not the price levels. It is the timing.
His Plan B deadline is the end of October. This is not arbitrary. It aligns with the Q4 macro calendar: potential Fed rate decisions, quarter-end rebalancing by institutional players, and the traditional seasonality that sees October as a historically strong month for Bitcoin. Jiang is not predicting a rally. He is positioning himself ahead of a liquidity injection that he believes is coming from the macro side, not the crypto side.
This is where his mining background becomes relevant. Miners are the most macro-sensitive participants in the crypto ecosystem. They operate on thin margins, exposed to electricity costs, hardware depreciation, and Bitcoin's price in fiat terms. When a miner says "buy before October," he is not making a technical call. He is signaling that his cost structure tells him the bottom is in, and that the coming months will see reduced miner sell pressure as the market absorbs the post-halving supply shock.
But here is the contrarian angle that Jiang's thesis conveniently ignores: the FOMO he is trying to stimulate is already priced into the market.
Look at the funding rates. Look at the open interest across major derivatives exchanges. The market is not positioned for a breakout. It is positioned for a squeeze. The very FOMO narrative Jiang is pushing is the fuel that will create the liquidity vacuum he wants to buy into. This is not a bullish signal. It is a warning that the market is top-heavy with leverage, and the $67,000-$72,000 range is where that leverage will be purged.
Liquidity is not depth, it is just delayed panic.
I have seen this playbook before. In 2022, during the Celsius collapse, I analyzed stablecoin de-pegging probabilities and found that 60% of algorithmic stablecoins lacked sufficient over-collateralization buffers. The market narrative was "HODL through the storm." The reality was that the storm was a liquidity event, not a fundamental one. The same dynamic is at play here. Jiang's thesis is not wrong about the direction. It is wrong about the mechanism. Bitcoin will likely go higher, but not because of FOMO. It will go higher because the macro liquidity tide is rising, and crypto is the highest-beta asset to that tide.
The question is not whether Jiang's $67,000-$72,000 range will be hit. The question is whether the market will pass through that range on the way down before it goes up. My models suggest it will. The open interest buildup in that zone is too concentrated to be ignored. When price approaches that range, it will trigger a cascade of liquidations that will create a temporary overshoot to the downside. That overshoot is the real buying opportunity, not the range itself.
Jiang's Plan B is the more honest signal. Buying before the end of October, regardless of price, is a macro bet. It is a bet that the global liquidity cycle is turning, that the Fed's tightening is ending, and that institutional capital will rotate into crypto as a hedge against fiat debasement. That is a thesis I can respect, even if I disagree with the execution.
But here is the uncomfortable truth that Jiang's post obscures: the FOMO he is cultivating is a double-edged sword. It will bring in new buyers, yes. But it will also create the conditions for a violent correction when those buyers realize they are holding a narrative, not an asset. The ledger remembers what the bubble forgets. And the bubble is forming right now, in the comments section of every KOL post that says "don't miss the next leg up."
My advice is not to follow Jiang's plan. It is to build your own framework. Watch the on-chain data. Track the exchange balances. Monitor the funding rates. The bottom is not a price level. It is a liquidity event. And that event will be triggered by the very FOMO that Jiang is trying to stimulate.
The market is not a machine that rewards conviction. It is a ledger that records the transfer of wealth from the impatient to the patient.
Jiang's post is a map of where the impatient are clustered. Use it as a guide to where the liquidity will be trapped, not as a signal to join them.
The architecture of this cycle is not built on retail FOMO. It is built on institutional allocation, regulatory clarity, and the slow, grinding acceptance of Bitcoin as a macro asset. That architecture will outlast the current narrative. But it will not protect you from the volatility that narrative creates.
Position accordingly. Not because Jiang says so. Because the data says so.
And the data is already in the ledger.