Bitcoin Short-Term Holders Maintain 30-Day Profit Streak
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Written by
Simonas Brazionis - Updated 2026-09-15 19:42:25
Bitcoin short-term holders have maintained a profit streak for nearly a month, signaling a potential strengthening of the market, according to new analysis.
Data from the on-chain analytics platform CryptoQuant indicates that a segment of Bitcoin short-term holders has been in profit since August 16. These investors are typically more reactive to short-term price fluctuations, adjusting their exposure more frequently than long-term holders.
Short-Term Holder Profitability Trends
As of Tuesday, short-term holders' coins in profit totaled $168.2 billion, while $102.6 billion were held below their acquisition price. CryptoQuant emphasized that the duration of profitability is more significant than the profit-to-loss ratio.
The firm noted this marks the first sustained period of profit for short-term holders since the market peak, contrasting with a brief period in January that lasted less than a week and dominant losses in May.
CryptoQuant data shows current short-term holder profitability is primarily driven by entities holding Bitcoin for one to three months, with an average cost basis of $63,372. For those holding for three to six months, the cost basis is now $73,190.
Implications for Market Recovery
The analytics platform highlighted that extended periods of short-term holder profitability have historically characterized Bitcoin market recoveries across previous price cycles, including the end of the 2022 bear market. CryptoQuant views this as a necessary condition for the return of a long-term Bitcoin price uptrend.
The firm further stated that a bear market trend genuinely reverses only when profits become consistent for short-term holders, encouraging them to retain their positions and benefit from upward price movements. This data aligns with an ongoing period of aggregate profitability observed across the broader Bitcoin investor base.
BTC/USD has retained most of its 25% August gains, and the spent output profit ratio (SOPR), which tracks overall investor profits or losses, has remained above its breakeven level of 1 since August 19. Checkonchain, another on-chain analytics suite, recently commented that short-term holder profitability is beginning to resemble early bull-market recoveries.
