According to CoinMeta, Jiang Zhuoer, the founder of Leibit Mining Pool, stated that the success rate of short-term price prediction is limited, and the key lies in “position management, currency allocation, and actual execution.” During a bull market cycle, his default holding strategy is 100% spot positions. Short selling is considered a spot hedging strategy, rather than a net negative position. By executing two hedging short sales during the period when Bitcoin peaked at 82,000 on September 4th and stabilized around 75,000 on September 16th, Jiang Zhuoer locked in a 51% profit from that downward trend. Subsequently, as Bitcoin rebounded from 75,000 to 81,000, he fully capitalized on the increase with his entire position in spot. He revealed that after the failure of the clarity bill vote but before the 75,000 price level was broken through, he chose to close his short positions and continued to hold long positions with his full portfolio. After several months of spot trading without leverage and hedging, his return on currency basis reached 34%, and when measured in USDT, the yield reached 92%.