Bitcoin $75K Cost-Basis Cluster Creates Near-Term Support

Bitcoin was trading around $76,350 as several investor cost bases converged near $75,000, creating a concentrated band of realized and unrealized positions that serves as near-term support. One-to-three-month holders show an average acquisition cost of $75,620, while the weighted cost basis for US spot Bitcoin ETFs sits at about $76,700.

The one-to-three-month cohort’s $75,620 average previously capped price action in March, when Bitcoin declined from roughly $75,600 to $62,000 over two weeks. Bitcoin has also closed above the adjusted realized price of about $72,300, a metric that excludes coins held for more than seven years and measures the average acquisition cost of circulating supply.

Analyst Darkfost noted that a weekly close above the adjusted realized price on April 19 reflected stronger conviction among longer-term holders. Darkfost added, “If Bitcoin builds a standard deviation above the average cost basis, more investors would be in profit and likely hold.”

Institutional positioning adds a nearby reference: the weighted average cost basis of US spot ETFs near $76,700 marks a zone of recent accumulation from fund flows. Short-term holder cost basis is higher, near $81,800, creating a layered set of cost levels around the current price.

Derivatives data show a tight liquidity corridor around the $74,000–$80,000 band. Cumulative long liquidation risk concentrates near $74,000, with roughly $2.69 billion of long exposure at risk. Short liquidations accumulate near $80,000, totaling about $4.48 billion. A recent intraday swing between $77,873 and $74,868 cleared roughly $494 million in positions, including about $347 million in long liquidations. Analyst CW observed that high-leverage long positions have been reduced while a larger pool of short exposure remains above $80,000.

Traders are watching order books and futures funding rates to gauge whether buying pressure around ETF accumulation levels and one-to-three-month holder break-even points holds or whether slippage to lower liquidation bands forces additional forced selling.

For clarity, the adjusted realized price removes coins held more than seven years from the typical realized price calculation to focus on actively circulating supply. Short-term holder cost bases reflect recent purchases over weeks to months and can change quickly with market activity, while ETF cost bases reflect averaged entry prices from fund inflows.