Ki Young Ju, CEO of on-chain analysis firm CryptoQuant, Bitcoin 
$91,409He announced that (BTC) has officially entered a euphoric period by maintaining the $ 90,000 level. Ju stated that this period started immediately after the US Presidential elections. The price of BTC is $93,444 at the time of writing.
Euphoric Period in Bitcoin
Ki Young Ju stated that BTC has entered a “euphoric phase” and that the market is largely profitable during this period.
“Bitcoin euforia is here. 99.3% UTXO (unspent output in transaction) currently in profit. Everyone is happy. This euphoric period usually lasts 3-12 months (except for the November ’21 bull trap).”
He added that such periods usually last several months, but investors should be careful.
Ju, the leading smart contract platform Ethereum 
$3,107He stated that (ETH)’s correlation with BTC has decreased.
“ETH is becoming less correlated with BTC. The 180-day BTC-ETH Pearson correlation is at a three-year low. “A 10% gain in Bitcoin could only mean a 3% gain for Ethereum.”
This reminds us that both cryptocurrencies now move according to their own dynamics.
Participation of Retail Investors Is Increasing
Ju noted that individual participation in the Bitcoin bull market has strengthened.
“Over the past few days, there are signs that individual investor participation in the Bitcoin bull market is strengthening.”
He stated that this increase could positively affect market dynamics. While BTC’s strong trend created excitement among investors, Ju also emphasized the risks of taking a short position.
“Shorting now carries the risk of hitting the top or shorting at the bottom of a parallel bull run.”
These developments show that current trends and investor behavior in the cryptocurrency market have changed significantly. While Bitcoin’s euphoric period affects the overall performance of the market, Ethereum’s independent movement may offer investors the opportunity to develop different strategies.
These dynamic changes in the cryptocurrency market require investors to review their strategies and follow market trends closely. The current performances of Bitcoin and Ethereum provide important clues about future market movements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
