Trader Killa: BTC short-term holder supply overheating may signal market bottom formation

Odaily News: Trader Killa stated on Platform X that Bitcoin short-term holder (STH) supply recently reached an "overheated" level, a situation similar to the price action after the market broke away from the macro bottom in 2023, and it may be another signal of market bottom formation.

Killa pointed out that after Bitcoin short-term holder supply reached a similar high level in 2023, BTC price continued to rise and maintained an upward trend in the higher timeframe (HTF) trend. The current market structure is quite similar to the previous cycle, and investors should not overly rely on the Fear and Greed Index to judge the direction of the market. Killa stated that market sentiment may remain irrational for a long time, and short-term sentiment indicators do not necessarily reflect long-term trends.