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

On November 18th, according to HTX market data, Bitcoin has shown a rebound and surged beyond $91,000. It is now trading at $91,082.

On November 18th, as per the monitoring of Onchain Lens, the Mt. Gox address made another deposit of 185.52 BTC to Kraken 7 minutes ago. The value of this deposit is $16.8 million.

According to official sources, DGRAM was launched on Binance Alpha on November 18th, with a reported market capitalization of $21.64 million.

On November 18th, according to Coinglass data, the current mainstream CEX and DEX funding rates show that after the recent one-sided sharp decline in the crypto market, although it hit a new low since the start of this round of decline earlier this morning, the overall bearish sentiment among participants has significantly weakened (almost all were negative funding rates on November 12th), and the funding rates of more asset trading pairs have returned to a neutral state. BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain the balance between contract prices and underlying asset prices. They are usually applied to perpetual contracts and serve as a mechanism for the exchange of funds between long and short traders. The trading platform does not charge this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it represents the baseline r

On November 18th, despite the ongoing pressure on the crypto market this week, the number of Bitcoin whale wallets has witnessed a surge contrary to the trend. Data from Glassnode indicates that whales have been continuously accumulating since the end of October. The number of addresses holding more than 1000 BTC has increased significantly since Friday. On October 27th, when BTC reached a high of $114,000, the number of whale wallets dropped to a yearly low of 1354. However, as of this Monday, that number has rebounded by 2.2% to 1384, reaching a four-month high. Meanwhile, Glassnode indicators suggest that small investors holding 1 BTC or more may be one of the sources of selling pressure. The total number of such wallets has continuously declined from 980,577 on October 27th to a new yearly low of 977,420 on November 17th. This confirms a typical pattern in the crypto market where whales often take the opportunity to accumulate when retail investors panic-sell during a sharp decli