“I’m not exaggerating. Old players definitely know BitMEX. They have a reserve fund of 4 billion US dollars, which everyone can check. BitMEX is definitely powerful.”
In the latest BitMEX Spaces, the legendary Chinese trader Liang Xi, known as the General, spoke again: He has been shorting since January and never chasing longs. The goal of Ethereum is to fall back to $2,000, and he deeply disassembled the logic of bull market dealer harvesting. This article sorts out his core views, market data and macro insights for reference.
Space link for review
https://x.com/Bitmex_zh/status/1943263269084438791
1. Current position: Still firmly short
Liang Xi emphasized that I will never chase long at this position. He has been bearish and has been placing short orders since the US President issued personal tokens in January (which he regarded as the swan song of the bull market).
Ethereum may pull back to $2,000. It indicates that ETH has fallen below this key psychological level, and there is still a risk of further decline on the technical side. Liang Xi judged that the downward space has not been completely released.
2. Altcoins may have bottomed out: Strategy switching after altcoins fell by 90%+
In the first half of 2025, most mainstream altcoins retreated more than 90% from their highs of the year. Liang Xi reviewed his record of shorting Dogecoin first and then other altcoins, and said frankly: Many coins have been hammered into slag, and the marginal benefits of shorting against the wind are declining. Our small group began to look for opportunities to go long at low levels, but we cannot say it publicly for fear that the market makers will watch the market.
3. Listen carefully: How to identify the top and bottom of Liang Xi
The top rule: When everyone is making money, it is the hardest time to make money - huge liquidity often comes from retail investors FOMO, and you must not chase the rise at this time. In Liang Xis eyes, the Trump coin issuance event is a signal of the benefits are exhausted, which means that the main force has begun to distribute in batches.
Bottom logic: The bottom must be accompanied by panic selling, making people unable to hold on, otherwise it is difficult to say that the real bottom has been reached. The conspiracy group will definitely use many methods to make everyone sell.
Core worldview: The most valuable things for retail investors are time and patience; evil rich people try to use money to influence the publics energy, and those who listen to official narratives often fall into traps - listen to what rich people say in the opposite way.
4. Macro prediction: economic recession, BTC/gold both fall into valuation trap
The US economy may fall into a great depression in 2026. Liang Xi predicts that the US economy will fall sharply in 2026, and risky assets will be fully revalued.
Bitcoins target is to fall another 50%. If the US falls into recession, ETF redemptions and miners selling pressure resonate, BTC may usher in a deep correction. A further fall of 50% is not a dream
Gold is also not immune to this impact. The reason is that institutions such as BlackRock already control about 30% of the paper gold in circulation, and the hard currency characteristics of gold in the Internet age are difficult to verify, and there are many tricks in the paper game.
5. Why pay attention to BitMEX? ——Liang Xi’s view on exchanges
“I’m scared of the shady operations of other platforms and won’t easily recommend an exchange.”
BitMEX is the oldest derivatives exchange in the industry, and BitMEX invented the perpetual contract.
BitMEX has been operating for nearly 10 years and has never suffered any loss of user funds; it is safe, transparent and compliant.
Historical accumulation: BitMEX has been online since 2014, focusing on perpetual contracts and derivatives, and has maintained a record of 0 user asset losses throughout the bull and bear markets.
Professional liquidity: The order system and mature mechanism that have experienced 10 years of bull and bear tests are suitable for experienced traders.
The Liang Jiangjun Copy Trading Account will be opened soon: Liang Xi plans to establish a publicly copyable strategy account on BitMEX, and fans will be able to synchronize their positions with one click. Stay tuned.
VI. Conclusion
Liang Xi became famous for his high-leverage short positions, and shocked the market with his counter-trend macro perspective. This time, Space systematically explained his harvest at the end of the bull market framework, the review of the Alt round of crashes, and the 2026 macro pessimism; and specifically mentioned the security and transparency of BitMEX. Regardless of whether the views are extreme or not, his analysis of the top and bottom rules, retail investor mentality, and capital game provides investors with great flow and thinking value for decision-making.
DYOR
Note: The above does not constitute any investment advice. This is just a compilation of market news, and we recommend you do your own research (DYOR) before making any trades. The above does not guarantee any returns, and BitMEX does not take any responsibility if your trading performance does not meet expectations.
