According to CoinMeta, trader Killa stated that the supply of short-term holders of BTC has recently reached overheated levels, and the market structure is similar to that at the bottom in 2023. He pointed out that investors should not rely too heavily on fear and greed indices, as short-term sentiment indicators do not necessarily reflect long-term trends. After the supply of short-term holders of BTC reached a similar high in 2023, the price of BTC continued to rise and maintained an upward trend over longer time periods.