[Analysis: Bitcoin short-term holders have been in a loss position for 8 consecutive months, with an average unrealized loss of 14.4%] CryptoQuant analyst Darkfost posted on the X platform stating that Bitcoin short-term holders (STH) have been in a loss position for 8 consecutive months, with their cost basis approximately at $74,800. The current average unrealized loss is 14.4%, significantly narrowing from 34% in early February. The STH cost basis has dropped from $95,700 to $74,800, indicating that some short-term holders have accumulated positions during the downturn, thereby lowering the average cost. During this cycle, the peak unrealized profit for STH occurred in March 2024, reaching 47%, while in October 2025, when BTC hit an all-time high, it recorded only an 11% profit margin.