Sustained Bitcoin recovery requires STH profitability above 50% says Glassnode

Glassnode says a sustained recovery in Bitcoin needs short‑term holder profitability back above 50%. The cohort is still under water.

- The share of STH supply in profit sits below 50%, per Glassnode’s latest update. Source.

- “Demand-side risk appetite tends to remain suppressed until this flips back above 50%,” the firm wrote. Source.

- Earlier flips above 50% aligned with rebounds, including the H1 2025 move that preceded new ATHs. Source.

- “Watch this level as a precondition for any sustained recovery,” Glassnode added. Source.