Bitcoin short-term holders stay in profit for 30 days as bullish signals improve

CryptoQuant says a group of Bitcoin shortterm holders has remained in partial profit for nearly a month, which it views as a sign that market conditions may be improving for BTC. The analysis defines shortterm holders as wallets that have held Bitcoin for less than six months. According to the data, these investors have been split between gains and losses since Aug. 16, with about $168.2 billion in profit and $102.6 billion in loss as of Tuesday. CryptoQuant said the current stretch of profitability is notable because similar patterns have appeared during past Bitcoin recoveries, including the end of the 2022 bear market. It also noted that the wider Bitcoin investor base has been in net profit since Aug. 19, while newer holders with cost bases above $70,000 have helped support the trend.