- Bitcoin is trading near a critical cluster of investor cost-basis levels around $75,000, including the average for one-to-three-month holders at $75,620 and the US spot ETF average near $76,700.
- The price closing above the adjusted realized price of $72,300 suggests increased investor conviction, as noted by analyst Darkfost, who sees it as a bullish signal.
- High liquidation risk exists just below $74,000 for longs and above $80,000 for shorts, creating a defined trading range based on derivatives data.
Bitcoin (BTC) currently trades around $76,350, positioning it near key investor cost-basis levels that could define the market’s near-term direction. The $75,000 level is emerging as a crucial support pivot, with several important averages converging around this price point.
The average cost basis for one-to-three-month holders sits at $75,620. This level previously acted as resistance but now aligns as potential support. Bitcoin has also closed above the adjusted realized price of $72,300, which excludes coins held for over seven years.
Crypto analyst Darkfost said a weekly close above this metric signals stronger long-term investor conviction. “A truly bullish signal would be for Bitcoin to start building a standard deviation above this average cost basis,” the analyst added.
Meanwhile, the weighted average cost basis of US spot Bitcoin ETFs is near $76,700, placing the price close to a recent institutional accumulation zone. The short-term holder cost basis is higher, near $81,800.
Consequently, these overlapping cost bases compress around $75,000, increasing price sensitivity to flows near this level. This clustering makes it a key support zone for the market.
Derivatives data outlines a tight liquidity corridor for the asset. Cumulative long liquidation risk nears $74,000, with roughly $2.69 billion at risk, while short liquidations near $80,000 total about $4.48 billion.
A recent swing between $77,873 and $74,868 cleared $494 million in positions. Analyst CW said high-leverage longs have been reduced, while a larger pool of short liquidations sits above $80,000.
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