Bitcoin recently traded at $76,350, staying above the average cost basis for several major investor groups. Investors who bought in within the last one to three months paid, on average, $75,620. That key level has shielded many recent buyers from losses, though it sits just below the weighted average entry price for US spot Bitcoin ETFs. For these institutional ETF investors, the average acquisition price stands around $76,700.
Short-term investor costs and support zone
Short-term holders (STH) face an average cost basis near $81,800. The $75,000 area has become critical resistance and support for both short and mid-term participants. In March, BTC briefly fell from $75,600 to $62,000, setting a psychological boundary for quick-turn traders. Today, the $75,620 mark has emerged as a fresh support point for those watching short-term market moves.
The “adjusted realized price,” which reflects the average acquisition cost of coins in active circulation, now stands at $72,300. Surpassing this level reduces the risk of losses for many investors. This metric excludes coins held for over seven years, focusing instead on assets actively moving in the market.
According to crypto analyst Darkfost, Bitcoin’s weekly close above this adjusted realized price on April 19 strengthened long-term holder conviction. Darkfost noted that greater stability above this level could push more investors into profit and encourage them to hold their coins for longer.
Institutional investors and ETF dynamics
With the average cost basis for US spot ETFs at $76,700, Bitcoin’s current price is hovering near the floor for institutional players. This proximity underscores heightened price sensitivity and recent accumulation by major investors. Notably, a high concentration of cost bases for various investor groups around $75,000 amplifies price movements and volatility in this key zone.
Data from CryptoAppsy reveals Bitcoin’s $76,350 level is pressing against the ETF average, while simultaneously trading in a tight band defined by the $81,800 short-term holder level and support preferred by long-term investors. This creates a compressed price range bound by two influential investor groups.
Liquidity risks and position concentration
Derivative market data highlights a significant liquidity corridor at $75,000. Approximately $2.69 billion in long positions are at risk of liquidation around $74,000. In contrast, the bulk of short positions is accumulated just above $80,000, where total liquidation risk reaches $4.48 billion.
During Wednesday’s price fluctuations between $77,873 and $74,868, Bitcoin saw $494 million in liquidated positions, $347 million of which came from long trades. Analyst CW observed a recent decrease in highly leveraged longs, while short risks are now building, especially above $80,000.
The convergence of buyer and seller cost bases between $74,000 and $80,000 creates a decisive battleground. As investors cluster their positions in this narrow corridor, Bitcoin remains exposed to strong price swings in the near term.
