Trader Killa stated that Bitcoin still has substantial upside potential, warning that over-leverage is causing traders to miss the broader move. He noted that many market participants fail to hold spot BTC, instead chasing short-term price fluctuations and frequently flipping between long and short positions, which prevents them from capturing sustained trends. According to Killa, those who are genuinely bullish on Bitcoin are the ones actually holding spot exposure rather than relying on leveraged derivatives trading.