Originally reported by Foresight News on November 11, 2026, at 22:35 (UTC+8). Jiang Zhuoer, founder of the Leibit mining pool, said in a post that the bull market remained intact. He argued that numerous on-chain and longer-term indicators showed the bear market had ended, and identified Bitcoin’s July 2026 price of $57,758 as the low of that bear market. The report did not specify the indicators behind his assessment.
Jiang framed the remaining question as where the current decline would stop: at $72,500, which he described as the 50% Fibonacci retracement level, or between $69,000 and $70,000, which he described as the 61.8% level. These were his proposed levels, not confirmed price floors.
He also described his own positioning. Jiang said he bought small-cap DeFi tokens at $76,600 after a theft involving Binance. While he considered that acceptable as a long-term trade, he said holding a fully allocated BTC long position at the same time was a mistake that conflated long- and short-term trading. After BTC fell to $72,700 and reached his 5% stop-loss threshold, he said he opened a hedge short at $73,000—effectively a stop-loss. He said he would wait on the sidelines and close that hedge if BTC fell further to $70,500.
Source: foresightnews.pro (originally published 2026-11-11 22:35 UTC+8)
