CryptoQuant CEO Ki Young Ju recently commented on the X platform that the Bitcoin market is currently experiencing a frenzy stage, with 99.3% of unspent transaction outputs (UTXO) in a profitable state. Ki highlighted that this 'frenzy' phase typically lasts between three to twelve months, although there are exceptions, such as the bull market trap in November 2021.
Ki noted that this phase began two weeks ago, and the market is now at a critical juncture. He explained that shorting might be an opportunity to capture gains near the peak or could result in misjudgment at the bottom of a parabolic rise. The current market dynamics suggest that investors should be cautious and consider the potential for both upward and downward movements as the frenzy stage unfolds.
