BlockBeats News, August 23, Renowned trader Killa posted a message stating that the bottom of Bitcoin has been formed, and the price has reclaimed the short-term holder cost line. Killa previously pointed out when Bitcoin was at $65,000: "Once it reclaims $67,400 and trades in the mid-$75,000 range while holding the short-term holder cost line, the bottom is formed."

However, Killa mentioned that before considering a rise to $90,000, the price first needs to break through the $80,000 to $83,000 range.