Euphoria

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ki-young-ju-highlights-bitcoins-euphoria-as-market-thrives/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ki Young Ju Highlights Bitcoin’s Euphoria as Market Thrives</a> 
Ki Young Ju, CEO of on-chain analysis firm CryptoQuant, announced that Bitcoin (BTC) has officially entered a euphoric phase while maintaining the $90,000 level. He indicated that this phase began right after the U.S. presidential elections. As of the writing of this article, BTC’s price stands at $93,444.
<h2 id="bitcoin-s-euphoric-phase">Bitcoin’s Euphoric Phase</h2>
Ki Young Ju described BTC’s current state as “euphoric,” noting that the market is experiencing significantly profitable transactions during this period.
<blockquote>
 “Bitcoin euphoria is here. 99.3% of UTXOs (unspent transaction outputs) are currently in profit. Everyone is happy. This euphoric phase usually lasts between 3-12 months (excluding the November ’21 bull trap).”
</blockquote>
He added that while such phases typically last several months, investors should remain cautious.
Ju pointed out that the correlation between leading smart contract platform Ethereum (ETH) and BTC has decreased.
<blockquote>
 “ETH is becoming less correlated with BTC. The 180-day BTC-ETH Pearson correlation is at a three-year low. A 10% increase in Bitcoin may only mean a 3% gain for Ethereum.”
</blockquote>
This indicates that both <a href="https://en.coin-turk.com/surge-in-cryptocurrency-trading-volume-among-turkish-investors/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrencies</a> are now moving according to their own dynamics.
<h2 id="retail-investors-participation-increases">Retail Investors’ Participation Increases</h2>
Ju highlighted that individual participation in the Bitcoin bull market has strengthened.
<blockquote>
 “In recent days, there are signs that individual investor participation in the Bitcoin bull market is increasing.”
</blockquote>
He expressed that this increase could positively affect market dynamics. While BTC’s strong performance excites investors, Ju also emphasized the risks of taking short positions.
<blockquote>
 “Currently, taking short positions carries the risk of catching the peak or shorting at the bottom of a parallel bull run.”
</blockquote>
These developments indicate significant changes in the trends and investor behaviors within the <a href="https://en.coin-turk.com/why-bitcoin-and-crypto-are-rising-new-crypto-currency-explanation-from-a-10-trillion-giant/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/china-and-hong-kong-could-connect-crypto-exchanges/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market. Bitcoin’s euphoric phase affects the overall market performance, while Ethereum’s independent movements may offer investors the opportunity to develop different strategies.
The dynamic changes occurring in the cryptocurrency market necessitate that investors reassess their strategies and closely monitor market trends. The current performances of Bitcoin and Ethereum provide crucial insights into potential future market movements.
The post <a href="https://en.coin-turk.com/ki-young-ju-highlights-bitcoins-euphoria-as-market-thrives/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ki Young Ju Highlights Bitcoin’s Euphoria as Market Thrives</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Ki Young Ju Highlights Bitcoin’s Euphoria as Market Thrives

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