Bitcoin’s Cost Basis Around $75K Identified as Key Support Level
- Bitcoin (BTC) is currently trading at $76,350, above the one-to-three-month holder average cost basis of $75,620.
- The US spot Bitcoin ETF cost basis is approximately $76,700, indicating significant institutional interest.
- A support pivot is emerging around the $75,000 level due to clustering of realized and unrealized positions.
- Cumulative long liquidation risk approaches $74,000 with about $2.69 billion at stake.
- Recent price swings between $77,873 and $74,868 cleared nearly $494 million in positions.
The concentration of Bitcoin’s cost bases around the $75K mark increases price sensitivity to market flows, making it a crucial support zone for current trading activity.
With Bitcoin’s price hovering just above key cost bases like the adjusted realized price of $72,300 and the one-to-three-month holder average of $75,620, maintaining this support could encourage further investor confidence. (Source)
