Bitcoin Maintains Profit Potential for Both Holder Groups

Bitcoin continues to trade at a premium for both short-term and long-term holders, maintaining its profit potential. As of October 1st, Bitcoin was trading around $83,700. Short-term holders' average break-even level rose by 1.2% over the past week, reaching $73,700. Despite this increase, their unrealized profit declined to about 13.7%, down from 15.4% a week earlier.

The market structure remains profitable for both holder groups, with Bitcoin trading above their average cost basis. Long-term holders' average cost basis fell by 0.3% over the same period, dropping to $48,800. This leaves them with a substantial unrealized gain of about 72% against their cost basis.

The dynamics between short-term and long-term holder cost bases are closely tied to how long coins remain held. As higher-cost coins move into the short-term holder group, it can drive up their average cost basis.