TechFlow reports that on November 19, Ki Young Ju, CEO of CryptoQuant, stated that the Bitcoin market has entered an euphoric phase, with the percentage of unspent transaction outputs (UTXOs) in profit reaching 99.3%, meaning the vast majority of holders are currently in a profitable position. Historical data shows that, except for the bull trap in November 2021, such euphoric periods typically last between 3 to 12 months. This current euphoric phase has lasted two weeks so far. Regarding short-selling at present, there are two possible outcomes: either precisely catching the top, or establishing short positions at the bottom of a parabolic rise.
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