BTC at $75.7K sits below all three key on-chain cost-basis levels.

With Bitcoin spot trading at $75,700, the asset is currently underwater relative to three closely watched on-chain price models. The Short-Term Holder cost basis stands at $78,900, the True Market Mean at $78,000, and the Active Investors Mean — reflecting the average entry price of recently active coins — sits considerably higher at $85,000.

Trading below all three levels simultaneously signals that a meaningful share of recent buyers are in unrealised loss, which can weigh on near-term sentiment. The one constructive anchor is the Realised Price at $54,100 — the aggregate average acquisition cost across all coins — which remains well below spot, indicating long-term holders are still broadly in profit.

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