# 江卓尔 Says Bitcoin (BTC) July Low May Mark Bear-Cycle Bottom

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/54975
Published: 2026-11-12T05:38:39.000Z
Updated: 2026-11-12T05:38:39.000Z
Section: Investing

> He says the bull market remains intact and identified $72,500 and $69,000 to $70,000 as levels to watch during the current pullback.

江卓尔, founder of 莱比特矿池, said Bitcoin (BTC) may have reached the current bear-market low at $57,758 in July, while arguing that the bull market remains intact.

He said on-chain and long-term indicators show that the bear market has ended. For the current pullback, he identified $72,500, the 50% Fibonacci retracement level, and $69,000 to $70,000, the 61.8% level, as points to watch.

In describing his trading, 江卓尔 said he bought small DeFi tokens after the Binance theft incident, a move he considered acceptable as a long-term trade. He said maintaining a fully sized Bitcoin long at the same time mixed long-term and short-term strategies.

He said he opened a hedge short at $73,000 after BTC fell to $72,700 and touched his 5% stop line. He plans to wait out the market and close the short if BTC falls to $70,500.