BTC is dancing on some razor-thin ice right now. The numbers tell a story—and it's not exactly comforting.

Here's where different holder groups are sitting cost-wise:
• Spot price hovering at $89.2K
• Short-term holders? They're underwater at $103.1K basis
• Active traders averaged in around $88K
• The broader mean sits at $81.4K
• Realized price anchor: $56.4K

What does this mean? Risk is stacking up where conviction used to be. When cost bases cluster this tight near current price, volatility tends to spike. Short-term holders are bleeding, active money is barely treading water, and the gap to realized price shows just how much froth built up.

Watch these levels—they're not just numbers, they're psychological battlegrounds.