According to Foresight News, CryptoQuant CEO Ki Young Ju stated in a post that data shows that the profit ratio of Bitcoin's Unspent Transaction Output (UTXO) has reached a new high of 99.3%. Historical data shows that, except for the bull market trap in November 2021, this period of market excitement typically lasts for 3-12 months. The excitement period has lasted for two weeks. There are two possibilities for the current short selling operation, either to accurately capture the top or to establish a short position at the bottom of the parabolic rise.