Bitcoin’s short-term holders have now been at least partially profitable for 30 consecutive days, the longest uninterrupted profit streak of 2026, according to data from CryptoQuant. The on-chain analytics firm says this pattern has historically appeared during durable market recoveries and may strengthen the case for a renewed bullish phase.
As of Tuesday, coins held by short-term holders in profit were valued at $168.2 billion, compared with $102.6 billion in unrealized losses. That puts the profit-to-loss ratio near 1.64 and means roughly 62% of measured short-term holder value remains profitable. CryptoQuant analyst Darkfost noted that the current run began on August 16, whereas a similar January reading lasted less than one week before losses returned.
Cost-basis data shows differentiation within the short-term cohort. Bitcoin acquired one to three months ago has a realized price of $63,372, while coins held for three to six months carry a higher cost basis of $73,190. The younger segment has more room before returning to aggregate losses, but the more mature short-term group sits closer to current market levels and could grow more sensitive in another correction.
CryptoQuant also highlighted that Bitcoin's spent output profit ratio moved above its breakeven level of 1 on August 19 and has stayed narrowly above it since. With BTC trading around $78,000, Darkfost identified $80,000 as the key confirmation level for a durable reversal. A sustained move above that threshold would place more recently acquired coins into profit, while continued rejection below it could encourage profit-taking and weaken the bullish interpretation.
Overall, the data suggests bearish pressure may be easing, but analysts caution that broader demand and liquidity conditions remain essential before calling a definitive trend change.
