Ethereum’s Strait of Hormuz Moment: Bearish Bet at $2,242 Sparks Sub-$2k Hopes?

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<a href="https://jpykr.com/eth-usd/">Ethereum</a> meets the Strait of Hormuz as analyst bets on bears, will price go sub $2k again?

Jiang Zhuoer, founder of BTC.TOP, believes the current US-Iran conflict is a pivotal moment for America, comparing it to the Suez Canal crisis. He also announced he recently initiated a medium-term short position on Ethereum at a price of $2,242.

Summary

  • Jiang Zhuoer, founder of BTC.TOP, says he shorted ETH at $2,242 and views all war‑driven bounces as chances to add to shorts in an unfinished bear cycle.
  • He calls the US‑Iran conflict a “Suez Canal moment,” predicting Iran will effectively control the Strait of Hormuz and reshape oil flows while the US tacitly accepts it.
  • Ethereum is trading in the mid‑$2,200s as Jiang links his bearish view to energy‑driven risk‑off behavior rather than Ethereum fundamentals.

Jiang Zhuoer, a prominent early Bitcoin investor and founder of the mining company BTC.TOP, has bet against Ethereum, opening a short position at $2,242. He believes the current tensions between the US and Iran represent a significant shift in global power, similar to the Suez Canal crisis, and that the cryptocurrency market hasn’t hit its lowest point yet. In a post on Binance‘s Square platform, reported by Chinese news sources like PANews and WEEX, Jiang explained that recent price increases caused by the conflict are temporary and present a good opportunity to profit from a further price decline. He views this as a longer-term investment strategy, not a quick trade.

As of today, Ethereum is trading around $2,250. We’ve seen some selling pressure since late March, when prices briefly hit over $2,600. This dip seems to be tied to broader market concerns – rising oil prices and increased geopolitical tensions in the Strait of Hormuz are definitely playing a role. Looking at the charts, price action is a bit messy right now, bouncing around that $2,200 level. Short-term indicators are giving us mixed signals, leaning slightly negative, but the longer-term trend still suggests we’re in a pullback from the strong upward movement we saw earlier in 2024 and 2025.

‘Suez Canal moment’ and why Jiang is short Ethereum

In a recent analysis, Jiang connected the tensions between the US and Iran, control of the vital Strait of Hormuz, and a potential decline in American global power. He likened the current situation to the 1956 Suez Canal crisis, when Britain lost control of the canal – a moment widely seen as the end of its dominance. Jiang believes the most probable result of the current conflict is that Iran will gain effective control of the Strait of Hormuz and begin charging fees for oil shipments. While the U.S. may not formally acknowledge this, he predicts they will eventually accept it as a reality.

Energy analytics firm Kpler says the recent crisis in the Strait of Hormuz is significantly impacting global oil markets, with potential disruptions to supply. They reported on April 6th that oil production in southern Iraq is decreasing and Iranian exports were already at multi-year highs before the current situation. According to Jiang, these factors will likely continue to drive up energy prices and negatively affect risky investments like Ethereum. He believes the current downward trend in the market isn’t over and sees temporary price increases as chances to sell, though he acknowledges a small chance of major conflict escalating, which would further destabilize markets.

Jiang didn’t reveal how much ETH he shorted, but said it’s a trade he plans to hold for a few months. He compared it to a previous successful trade where he bought Ethereum at $1,850 and sold it for around $2,144. News sources like Finbold see this move as a strong indication that Jiang, a well-known Chinese billionaire in the crypto world, believes the price of ETH will likely fall in the near future.

This trader is connecting a potential profit from betting against Ethereum (around $2,242) to broader global issues – specifically, the influence of the US, vulnerable oil shipping routes, and how long the current downturn in crypto will last. The success of this trade won’t depend so much on Ethereum’s technical details, but rather on the situation in and around the Strait of Hormuz and how much disruption global markets can handle due to energy price swings.

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2026-04-10 18:30