Max pain is now officially, up.

People say this all the time and usually it is not the case.
But the market bottoming here and pushing on to new highs in aggressive fashion, this year, is the most unexpected scenario right now.
It would quite literally leave the space utterly stunned.
Almost everyone is expecting 4 year cycle lows, $35k in October, then new highs 2029 etc.
Suggesting anything different is simply attacked right now.
But right here, Short term holders reached the most overextended Bollinger bands, and most STH losses since 2018.
What that means is short term holders have capitulated, and the market going higher would be the most painful scenario as they are all out of the market and convinced of lower.
Whenever it has got close to these extreme levels, significant upside has come after.