With the BTC price reclaiming the $91,500 mark, 99.3% of Unspent transaction output (UTXOs) are in profit now. Following this, investor optimism in Bitcoin adoption has reached a new high. Notably, this phase has typically lasted between 3–12 months when evaluating the historic market sentiments. However, the bull trap during 2021 is an exception. Reportedly, this phase started about 2 weeks ago after the victory of Donald Trump as the next U.S. President. With increasing volatility in the crypto space, shorting now can either catch the top or the bottom of a historic bull run.
Source: https://coinpedia.org/crypto-live-news/bitcoin-season-begins-over-99-utxo-in-profit/