The CEO of analytics firm CryptoQuant has declared that Bitcoin has reached a state of euphoria as it maintains its position above the $90,000 mark.
CryptoQuant chief executive Ki Young Ju says that BTC is entering a “euphoric phase” that began shortly after the US Presidential election.
“Bitcoin euphoria is here.
99.3% of UTXOs (unspent output in transactions) are in profit now. Everyone’s happy. This euphoric phase typically lasts 3–12 months (except Nov ’21 bull trap).
This started 2 weeks ago. Shorting now could be either catching the top—or shorting at the bottom of a parabolic bull run.”
