In a ChainCatcher report published November 11, 2026, at 22:40 (UTC+8), Jiang Zhuoer, founder of the Leibit mining pool, said on X that the bull market was still intact. He claimed that on-chain and longer-term indicators showed the bear market had ended and that Bitcoin’s July low of $57,758 was the low for that bear market. The report did not identify the indicators behind his claim.
Jiang framed the remaining question as where the current decline would stop: around $72,500, which he identified as a 50% Fibonacci retracement, or between $69,000 and $70,000, which he identified as a 61.8% retracement. Those levels are his assessment, not confirmed support.
He also described a mistake in his own positioning. After a theft at Binance, he said he bought smaller DeFi tokens when Bitcoin was at $76,600. He considered that acceptable as a long-term trade, but said simultaneously holding a BTC long position at 100% exposure wrongly mixed long-term and short-term trading.
According to Jiang, Bitcoin then fell to $72,700, triggering his 5% stop-loss threshold. He said he opened a hedging short at $73,000—effectively a stop-loss—and would wait on the sidelines. If Bitcoin fell further to $70,500, he said he would close that short. His account documents his stated rationale and intended response, not whether his market outlook will prove correct.