Bitcoin short-term holders hit 30-day profit streak as bull-market odds improve: CryptoQuant — SkimNews
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- CryptoQuant data shows Bitcoin short-term holders (wallets holding UTXOs for under six months) have been in profit since Aug. 16, notching 30 consecutive days in the green.
- The STH base is split: $168.2 billion in coins held at a profit versus $102.6 billion below acquisition price as of Tuesday, but CryptoQuant calls the sustained streak itself the more meaningful signal.
- The last STH profit stretch in January lasted under a week, and losses dominated in May, making the current 30-day run the first durable episode since the cycle top.
- CryptoQuant characterizes lengthening uninterrupted STH profitability as a prerequisite for the return of a long-term BTC uptrend, noting the same pattern appeared at the end of Bitcoin's 2022 bear market.
- The spent output profit ratio (SOPR) crossed its breakeven level of 1 on Aug. 19 and has narrowly held above it since, with on-chain suite Checkonchain arguing STH profitability is 'starting to look more like those early bull-market recoveries.'
- STH profitability is concentrated in the 1–3 month cohort, which carries a cost basis of $63,372, versus $73,190 for wallets in the 3–6 month band, per CryptoQuant realized-price data.
- Bitcoin has retained the majority of its 25% August upside, the backdrop against which CryptoQuant is reading the STH streak as improving bull-market odds.
Why it matters: CryptoQuant treats sustained STH profitability — not just the dollar split between winners and losers — as the on-chain prerequisite for a durable bull-market reversal, a pattern it also flagged at the end of Bitcoin's 2022 bear market. For traders watching on-chain signals, the 30-day streak combined with SOPR holding above breakeven since Aug. 19 strengthens the case that the 25% August rally has staying power rather than fading into another May-style loss regime.
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