Bitcoin's Recent Rally Brings Short-Term Buyers Back into Profit

Bitcoin's recent price surge has brought short-term buyers back into profit. Data from CryptoQuant shows that the average cost basis for this group is around $73,000, and with Bitcoin currently trading above $73,300, they are now sitting on a 13% profit.

This level of profit margin can be a limiting factor in panic selling, as investors have little incentive to cash out early when their unrealized gains are relatively small. In fact, CryptoQuant analysts noted this same phenomenon in July 2025, when short-term holders with an average cost basis around $104,000 were also sitting on a 13% profit.

Looking at historical data, the current gains of 13% pale in comparison to previous market peaks. At the 2012 peak, short-term holders had an average profit of 232%, while at the 2021 top, they enjoyed a gain of 150%. This suggests that the current market is still in a recovery phase.

The $73,300 level is particularly significant, as it sits close to the cost basis of the 3-6 month cohort. A pivot point like this can act as support above it and resistance below it, making the $63,000 to $73,000 range the zone to watch in the coming days.