On November 11, 2026, Odaily Planet Daily reported a post by Jiang Zhuoer, founder of the Leibit mining pool. He said the bull market is still underway, that a large number of on-chain indicators and longer-term indicators show the bear market has already ended, and that he believes Bitcoin’s drop to $57,758 in July formed the bottom of this bear phase.
The level he flagged next is a choice, not a completed move. He said the market should watch whether this pullback stops at the Fibonacci 50% retracement of $72,500 or extends to the 61.8% retracement between $69,000 and $70,000.
He also described his own book. After the Binance theft incident he bought small DeFi tokens at $76,600, which he still views as acceptable from a long-term standpoint. Holding a 100% BTC long at the same time, he said, mixed a long-horizon trade with a short-horizon one. Bitcoin later fell to $72,700, touched his 5% stop, and he opened a hedge short at $73,000. He added that he would step aside for now, and that if Bitcoin falls further to $70,500 he would close the hedge short opened at $73,000.
Those are his statements as relayed by Odaily. The summary does not name the indicators, does not show the prices used to draw the Fibonacci levels, and does not independently confirm the trades or the stop. A pool founder pairing an intact-bull narrative with a freshly opened hedge is offering both a market view and a position update; neither is tested in the dispatch. Whether $57,758 was the cycle low, and whether price holds $72,500 or reaches the lower band, stay attributed claims.
Original report: Odaily newsflash, November 11, 2026, 22:46 UTC+8.
