Bitcoin found support above a key investor cost-basis level as spot BTC ETF flows and spot positioning compressed BTC’s price range in preparation for the next trending move. Bitcoin (BTC) is trading at $76,350, which is above several key investors' cost-basis levels. The one-to-three-month holder average sits at $75,620, placing a large share of recent buyers near breakeven, while the price sits just below the US spot exchange-traded fund (ETF) cost basis of $76,700.
The short-term holder (STH) cost basis and the adjusted realized price extend on either side of this range, increasing the importance of the $75,000 level as a near-term support pivot. The one-to three-month holder cohorts share an average cost basis of $75,620. That level capped the price earlier in March when BTC fell to $62,000 from $75,600 in two weeks, but now it aligns as a potential support pivot.
BTC realized price excluding more than a seven-year supply. Source: CryptoQuant Bitcoin has also closed above the adjusted realized price at $72,300. This metric tracks the average acquisition cost of circulating supply, excluding coins held for more than seven years.
A move above it places a large share of investors above the break-even level. Crypto analyst Darkfost noted that a weekly close above the adjusted realized price on April 19 signaled stronger long-term investor conviction in Bitcoin. ” US spot ETF positioning adds an institutional cost basis level.
The weighted average cost basis of US spot Bitcoin ETFs sits near $76,700, placing the price close to a key area of recent institutional accumulation. The short-term holder's cost basis is near $81,800, a level at which investors could build more conviction if the price holds above it. Bitcoin cost basis for STH, US ETF, and LTH.
Source: CryptoQuant Together, these overlapping cost bases compress around $75,000, concentrating both realized and unrealized positioning in a narrow price range. This clustering increases price sensitivity to flows near this level, making it a key support zone. Related: Bitcoin eyes $75K after 'most hawkish' FOMC as oil hits highest since 2022 With the support level established at $75,000, the derivatives data outlines a tight liquidity corridor.
48 billion. Bitcoin exchange liquidation map. Source: CoinGlass A recent swing between $77,873 and $74,868 on Wednesday cleared $494 million in positions, including $347 million in longs.
Crypto analyst CW said the high-leverage longs have been reduced, while a larger pool of short liquidations sits above $80,000. The $74,000 to $80,000 band continues to anchor positioning, with both sides clustering around key cost-basis levels.
