Odaily Planet Daily reports: Killa posted on X that during the previous Bitcoin bull market, approximately 80% of cycle top indicators were never triggered, and similar scenarios could occur with future bottom indicators; therefore, historical signals should not be mechanically relied upon to determine market bottoms. He noted that the supply of long-term holders currently in a loss position has exceeded levels seen during the FTX collapse and is approaching those of the 2018 bear market.
The Bitcoin realized price is currently around $50,000, and in previous cycles, the price has historically tested the long-term holder realized price, making a return to this level still possible. However, Killa notes that Bitcoin should not be assumed to necessarily retrace to this level; many top indicators failed to trigger in the last cycle, and some bottom indicators may also fail in the future. Regardless, the current market's level of unrealized losses is comparable to that seen during the FTX event and the 2018 bear market.