[Jiang Zhuoer: Bull Market Still On, July's $57,758 May Be the Lowest Point of This Bear Market] Odaily Planet Daily reports that Jiang Zhuoer, founder of BTC.com, stated that the current bull market is still ongoing, with numerous on-chain and long-term indicators showing the bear market has ended. He believes that Bitcoin's drop to $57,758 in July formed the bottom of this bear market. Jiang Zhuoer stated that the market now needs to focus on whether this correction will ultimately stop at the 50% Fibonacci retracement level of $72,500, or further decline to the 61.8% retracement level of $69,000 to $70,000. Regarding trading, Jiang Zhuoer revealed that after the Binance hack, he bought DeFi altcoins at $76,600, which he believes is fine from a long-term trading perspective. However, simultaneously holding a 100% long position in BTC was a mistake of conflating long-term and short-term trading. Subsequently, BTC fell to $72,700, hitting its 5% stop-loss line, forcing it to establish a short position at $73,000 as a hedge. Jiang Zhuoer stated that he will temporarily step aside to observe the market. If BTC further falls to $70,500, he will close the previously established short position at $73,000.