[CryptoQuant CEO: The Bottom of This Cycle Will Be Around $56,000] BlockBeats News, November 18, CryptoQuant founder and CEO Ki Young Ju stated that the average order size in the BTC futures market indicates that whales have exited, and the market is currently dominated by retail investors. BTC on-chain data shows that the Realized Cap has stagnated for three consecutive days, and the growth rate of the total market cap is slower than that of the Realized Cap, indicating strong selling pressure. The PnL index flipped bearish on November 8, and whales are taking large-scale profits. If the cycle theory holds, the bottom of this cycle will be around $56,000.