Eight Months of Losses: Bitcoin Short-Term Holders Still Reeling

According to a recent analysis by Darkfost and Odaily, short-term Bitcoin holders have been experiencing losses for eight consecutive months. Their cost basis is around $74,800, with an average unrealized loss of 14.4%. This is down from a peak loss of 34% in February at the beginning of this year.

The short-term holders' cost basis has decreased significantly over time, dropping from $95,700 to its current level. Some analysts believe that some investors may have accumulated positions during the decline, which could be contributing to the lower average cost basis.

In contrast to the current losses, short-term holders experienced a peak profit margin of 47% in March 2024 and only 11% at Bitcoin's all-time high in October 2025. The analysis highlights the volatility of the cryptocurrency market and the challenges faced by investors.