Jiang Zhuoer: Has opened a 200% short position in Bitcoin at $65,720 to hedge against further losses.

Jiang Zhuoer, founder of BTC.com, posted that due to weak market performance, he has opened a 200% short position in Bitcoin at $65,720. This short position is used to hedge his 100% position in ETH spot and 100% position in BTC long positions. After hedging, except for DeFi altcoins, his overall position is equivalent to being out of the market.