Bitcoin price trend in 2025 It was never smoothbut one group of investors is quietly dominating this year's profit statistics. Short-term holders, classified as addresses that only hold BTC for one to three months, spent most of the year profiting amid multiple rallies to all-time highs and subsequent drawdowns throughout the year.
parable, The situation seems much less comfortable At the time of writing.
Short-term holders spent most of 2025 in gains
According to data from On-chain analytics platform CryptoQuant found that short-term Bitcoin holders were profitable about two-thirds of the time in 2025. According to on-chain P&L data, the group was profitable for approximately 66% of trading days, or approximately 230 trading days.
Bitcoin price will rise frequently in the first half of 2025 traded at or above Taking advantage of the average realized price of short-term holders allows recent buyers to lock in profits even though volatility remains high. This pattern became especially evident during the mid-year bull market, when Bitcoin surpassed the $100,000 mark and short-term profit margins expanded rapidly.
Whenever the price returned to a level above the short-term realized price, realized profits dominated the distribution. Back in January, Bitcoin maintained a position above its short-term cost base for almost two consecutive months, creating the first period of sustained profitability expansion for this cohort in 2025.
A similar, and even more pronounced, situation unfolded from May to October, with short-term holders saddled with significant unrealized gains. During this period, the profit margin rose to 20% in July. Bitcoin's first breakout $115,000. During this period, Spot Bitcoin ETFs saw huge inflows from institutional investors. All profit-taking sales have been cancelled. From short-term holders.
BTC: STH Realized P&L. Source: CryptoQuant
Current photo shows a short-term holder underwater.
This favorable background has turned into a loss in recent weeks. As of this writing, Bitcoin is trading in the low $90,000 range, but the realized value for short-term holders is just over $100,000. this place current location The profit margin is a loss of approximately 10%.
Interestingly, this margin recently dropped to -20% when Bitcoin price fell below $85,000 in November. This is the most severe loss situation for short-term holders in 2025.
Nevertheless, data for 2025 shows that short-term holdings were profitable for most of the year; At the moment, the outlook is not good. Structurally, these deep pockets of loss typically appear later in a correction than in its early stages.
Currently, the most important thing for short-term holders is Bitcoin.o Recover short-term realized prices And pushed back over $100,000. Until then, short-term holders will continue to be under pressure, even if annual statistics trend in their favor.
Featured image from Unsplash, chart from TradingView
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