Trader Killa said Bitcoin’s recent price action may point to a change in the broader trend after the market absorbed a string of negative developments without sustaining a deeper breakdown. In comments cited by BlockBeats on Sept. 20, Killa referred to an "everything is priced in" chart that tracks major catalysts across Bitcoin’s market cycles and the asset’s reaction after each event.
He argued that in bear markets, negative headlines usually push BTC lower and reinforce a habit among traders to short on bad news. Once the higher-timeframe trend turns, though, the same type of news may trigger only brief panic before Bitcoin absorbs selling pressure and resumes moving higher.
Killa pointed to the recent sequence of a Federal Reserve rate hike, expectations around a vote on the CLARITY Act, and the bill’s failure to advance. He said the market initially treated those events as reasons for Bitcoin to fall further, yet BTC only briefly broke below the range low before rebounding quickly and showing resilience. He added that even as narratives tied to a "World War III" scenario gained traction, Bitcoin began responding to fear-driven headlines in a relatively constructive way. In his view, that ability to absorb multiple bearish catalysts is a key reason he believes the trend may already have changed.
According to BlockBeats, trader Killa said on Sept. 20 that an "everything is priced in" chart tracks the main catalysts in each Bitcoin cycle and how price reacted after those events.
Killa said that during bear markets, negative news usually pushes BTC lower and gradually conditions traders to short whenever bearish headlines appear. Once the higher-timeframe trend changes, he said, the same kind of news may cause only a brief wave of panic before Bitcoin absorbs the selling pressure and continues higher.
He pointed to a recent run of events that included a Federal Reserve rate hike, expectations for a vote on the CLARITY Act, and the bill’s failure to move forward. The market at one point treated those developments as reasons for Bitcoin to extend its decline, but BTC only briefly fell below the bottom of its range before rebounding quickly and showing notable resilience.
Killa also said that even as narratives related to "World War III" intensified, Bitcoin started to show a relatively positive price response to fear-driven factors. In his view, this is a key difference between bull and bear markets: in a bear market, negative news drives prices lower, while in a bull market, the same kind of news can force traders to capitulate before price continues to rise.
He added that in the previous cycle, the approval of spot Bitcoin ETFs was the key catalyst that confirmed the continuation of the move. In the current cycle, he said, the CLARITY Act could play a similar role. For Killa, Bitcoin’s recent ability to absorb several bearish developments is an important basis for judging that the trend may already have shifted.
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