According to PANews, CryptoQuant CEO Ki Young Ju said on the X platform that the Bitcoin market is currently in a frenzy, with 99.3% of unspent transaction outputs (UTXO) in a profitable state.
Ki noted that this "mania" phase typically lasts between three and 12 months, but there are exceptions, such as the bull trap in November 2021.
Ki said that this phase started two weeks ago and the market is currently at a critical point. Shorting could be to capture opportunities near the top or to misjudge at the bottom of a parabolic rally.
