Eight consecutive months of losses: short-term bitcoin holders have an average unrealized loss of 14.4%

According to Odaily, based on monitoring by Darkfost, short-term Bitcoin holders have been in a loss-making state for eight consecutive months, with their cost basis around 74,800 USD. The current average unrealized loss is 14.4%, narrowed from 34% at the beginning of February. The short-term holders’ cost basis has decreased from 95,700 USD to 74,800 USD, indicating that some short-term holders accumulated positions during the decline, reducing the average cost. The unrealized profit peak for short-term holders in this cycle occurred in March 2024, reaching 47%, while at the time of Bitcoin’s all-time high in October 2025, the profit margin was only 11%.