CryptoQuant’s Moreno: Bitcoin turned bearish in November, eyes $56,000–$60,000

Bitcoin’s trend may have flipped to a bear phase in November after slipping below its one-year moving average, with internal indicators remaining weak since. The price traded around $88,794 at press time, and a potential bottom is estimated in the $56,000–$60,000 range, implying about a 55% drawdown from the all-time high.