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