Bitcoin short-term holders hit 30‑day profit streak as bull‑market odds improve

On‑chain data shows that Bitcoin short‑term holders (STH) have maintained a profit position for 30 consecutive days, marking the longest uninterrupted profit streak for this cohort in 2026.

What the data reveals

CryptoQuant reports that STH wallets – defined as those holding an unspent transaction output (UTXO) for less than six months – have been in profit since August 16. The total value of STH coins in profit stands at $168.2 billion, while $102.6 billion remain below their acquisition price.

Historical context

This is the first sustained profit period for STH since the market top, with the previous comparable stretch occurring in January but lasting less than a week. Similar patterns were observed at the end of the 2022 bear market, and analysts view the current streak as a prerequisite for a longer‑term bullish reversal.

Cost basis of newer investors

Entities holding Bitcoin for one to three months have an average cost basis of $63,372. Wallets in the three‑to‑six‑month range show a higher cost basis of $73,190, indicating that newer investors are clustered above the $70,000 level.

Broader market signals

The overall Bitcoin investor base has stayed in net profit since August 19, with the spent output profit ratio (SOPR) remaining above its breakeven level of 1. This aligns with other on‑chain metrics that suggest a shift toward early‑stage bull‑market recovery.