PANews reported on November 19 that CryptoQuant CEO Ki Young Ju said on the X platform that the Bitcoin market is currently in a frenzy phase, with 99.3% of unspent transaction outputs (UTXO) in a profitable state. Ki pointed out that this "frenzy" phase usually lasts 3 to 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.
