Bitcoin short-term holders (STH) have been sitting in profit territory for almost a month now. According to CryptoQuant contributor Darkfost, this kind of extended streak has lined up with the end of bear markets in previous cycles. Darkfost shared this insight on September 14, 2026.

What CryptoQuant Spotted

Darkfost points out that this is the first solid stretch where STHs are in profit since the last market top. The last time we saw a similar move was back in January, but that rally fizzled out in less than a week. This current run has lasted nearly a month, making it stand out compared to recent short-lived spikes.

Why This Matters for the Market

Short-term holder behavior is often a solid gauge for demand on recent buys. When this group stays in the green for a while, past cycles have shown it usually lines up with the market breaking out of a bear phase, according to the analyst. Still, these are observations—not guarantees. It’s a signal that’s historically shown up around phase shifts, but it’s not a sure thing.

So, this sustained profit streak for STHs is shaping up as one of the more notable on-chain signals suggesting the bear phase for Bitcoin could be wrapping up, at least in CryptoQuant’s view.