Bitcoin Short-Term Holders Notch 30-Day Profit Streak — SkimNews
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- CryptoQuant data shows Bitcoin short-term holders (STHs) — wallets holding coins for less than six months — have been in profit territory for 30 straight days since Aug. 16, the first sustained stretch since the market top.
- Bitcoin STH coins in profit total $168.2 billion as of Tuesday, while $102.6 billion remain held below acquisition price, leaving the cohort split but net-positive.
- CryptoQuant notes the only previous in-profit episode came in January but lasted under one week; in May, STH losses remained dominant.
- CryptoQuant views lengthening uninterrupted STH profitability periods as a prerequisite for a long-term BTC price uptrend — a pattern it says also emerged at the end of Bitcoin's 2022 bear market.
- Bitcoin's spent output profit ratio (SOPR) passed its breakeven level of 1 on Aug. 19 and has narrowly held above it since, with BTC/USD retaining the majority of its 25% August upside.
- Checkonchain argued last week that STH profitability was "starting to look more like those early bull-market recoveries."
- Bitcoin's STH profitability is being driven by holders aged one to three months with a $63,372 cost basis, while the older three-to-six-month cohort sits at a $73,190 cost basis.
Why it matters: Short-term holders are the most price-sensitive Bitcoin cohort, so their sustained profitability — $168.2 billion in profit vs. $102.6 billion in losses — is, per CryptoQuant's analysis of past cycles, a historically necessary precondition for a long-term BTC uptrend rather than a fleeting bounce.
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