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CryptoQuant CEO: The bottom of this cycle will be around $56,000

By: theblockbeats.news|2025/11/18 06:45:57

BlockBeats News, November 18th, CryptoQuant's founder and CEO Ki Young Ju stated that the average order size in the BTC futures market indicates that whales have exited, and retail investors are currently dominant. BTC on-chain data's Realized Cap has been stagnant for three consecutive days, with the total market cap growing slower than the realized cap, suggesting strong selling pressure. The PnL index flipped short on November 8th, indicating whales are taking profits on a large scale. If the cycle theory holds true, the bottom of this cycle will be around $56,000.

Teaser: NVIDIA to Release Q3 Financial Results This Week, Triggering a Global AI-Related Asset Chain Reaction

The top short seller on Hyperliquid significantly closed out their positions this month, including XPL and other multi-assets, reducing their total position from $760 million at the beginning of the month to $270 million.