The BTC price reclaimed its 200-day moving average for the first time in nine months as its rally gained momentum after the US Treasury expanded its bond buybacks.
Bitcoinâs latest rally has pushed the cryptocurrency above a key long-term technical indicator for the first time in about nine months, offering a potential signal that its broader downtrend is losing momentum.
Charting platform Barchart highlighted on Thursday that Bitcoinâs (BTC) price had crossed above its 200-day moving average for the first time since November 2025, roughly a month after BTC reached an all-time high above $126,000.
The 200-day moving average is widely used to gauge longer-term market trends, with moves above the indicator often viewed as a sign of bullish momentum. A sustained break above the level could therefore suggest that Bitcoinâs months-long downtrend is beginning to weaken.
The move came as Bitcoin climbed to nearly $73,000 on Thursday, according to TradingView data.
Bitcoin has gained more than 13% since Wednesday, when the US Treasury Department announced it would at least double the size of liquidity-support buybacks for longer-dated Treasury securities, raising the maximum from $2 billion to at least $4 billion per operation beginning Sept. 9.
The operation aims to improve liquidity at the long end of the Treasury market and initially pushed long-term yields lower, helping bolster risk appetite across financial markets.
Following the Treasuryâs announcement, Standard Charteredâs Geoff Kendrick said the move could help fuel a broader Bitcoin rally toward $100,000 by year-end.
Related: Bitcoin ETFs draw $517M in largest one-day inflow since early May
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