Bitcoin Short-Term Holders Post 30-Day Profit Streak, Signaling Bullish Reversal

Bitcoin short-term holders (STH) have maintained partial profitability for 30 consecutive days as of mid-September 2026, marking the longest sustained in-profit stretch of the year, according to onchain analytics firm CryptoQuant. The STH cohort—wallets holding unspent transaction outputs (UTXOs) for less than six months—has been split since Aug. 16, with $168.2 billion in coins held above acquisition price against $102.6 billion held below. CryptoQuant noted this is the first sustained period of STH profitability since the previous market top, surpassing brief episodes observed in January and well ahead of May, when losses remained dominant.

CryptoQuant analysts described the lengthening uninterrupted profitability window as a historical hallmark of Bitcoin market recoveries, including the end of the 2022 bear market. In a blog post, the firm wrote that the bear market trend "only truly reverses once profits settle in for good" among STHs, encouraging them to hold positions and ride upside momentum. The broader Bitcoin investor base has also remained in net profit since Aug. 19, reinforcing the bullish setup as BTC retains the majority of its 25% August gains.

Supporting the optimistic outlook, newer investor cost bases are clustering above $70,000, suggesting recent buyers entered at levels that continue to underpin current spot prices. With Bitcoin trading near $76,896 at the time of writing, the convergence of sustained STH profitability, aggregate net-profit positioning, and elevated cost-basis support has improved the odds of an enduring bullish reversal heading into the final quarter of 2026.