Killa: Overheating Supply from Short-Term BTC Holders May Signal Market Bottom Formation

Trader Killa stated that the supply of Bitcoin short-term holders (STH) has recently reached overheating levels. This situation is similar to the trend observed after the market detached from the macro bottom in 2023, potentially signaling the formation of a market bottom. Killa pointed out that after the supply of Bitcoin short-term holders reached similar highs in 2023, the BTC price continued to rise and maintained an upward trend in higher time frames. The current market structure is quite similar to previous cycles, and investors should not overly rely on the fear and greed index to determine market direction. Killa also mentioned that market sentiment may remain irrational for an extended period, and short-term sentiment indicators do not necessarily reflect long-term trends.

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