WuBlockchain
Jiang Zhuoer, one of China's best-known Bitcoin miners, predicted the current BTC bear market will bottom between October and December 2026 in a roughly $42,000 to $44,000 range. He framed the call around Strategy's mNAV, which he said has fallen to 0.72, close to the 0.7 trough recorded during the prior bull-to-bear transition in May 2022.
Why it matters
Jiang's lens is the lag between MSTR's multiple and BTC's price low. He argued that an mNAV bottom does not usually coincide with BTC's bottom. In the last cycle, BTC hit its final low about six months after Strategy's mNAV bottomed, which is the timing mechanic behind his late-2026 window.
Market impact
The read is structurally bearish but time-boxed: a $42K to $44K low would imply roughly 50% downside from current levels, yet Jiang is not calling a deeper capitulation. Miners watching the thesis will read it as a 2026 planning anchor rather than an imminent crash signal.
Frequently asked questions
-
Who is Jiang Zhuoer and why does his BTC bottom call matter?
Jiang Zhuoer is one of China's best-known Bitcoin miners and a long-time industry commentator. His bottom call carries weight because miners sit closest to the network's economics and tend to read cycle lows off cost-basis data rather than chart patterns.
-
What price range did Jiang Zhuoer forecast for the BTC bottom?
Jiang predicted the BTC bear market will bottom in a roughly $42,000 to $44,000 range between October and December 2026.
-
What is Strategy's mNAV and why is Jiang using it as his anchor?
mNAV is Strategy's market-to-net-asset-value multiple, the ratio of its equity market cap to the value of the Bitcoin on its balance sheet. Jiang points to the 0.72 reading as near the 0.7 low from the May 2022 bull-to-bear transition, a level he treats as a reliable cycle signal.
-
How long after MSTR's mNAV bottoms does BTC usually bottom?
Jiang argued that BTC does not bottom at the same time as MSTR's multiple. In the prior cycle, BTC's final low came roughly six months after Strategy's mNAV troughed, which is the lag behind his late-2026 timing call.
-
Is Jiang Zhuoer calling for a deeper BTC crash below $42K?
No. The call is bearish but time-boxed at $42K to $44K, implying roughly 50% downside from current levels rather than a deeper capitulation. It functions as a 2026 planning anchor for miners rather than an imminent crash signal.
CryptoSlate
Lookonchain
TheBlock
CoinDesk
Whale Alert