Bitcoin has climbed back above its 200-day moving average for the first time in around nine months, as the latest BTC rally gained momentum following an expansion of US Treasury bond buybacks.
Bitcoin Breaks Above a Key Long-Term Indicator
Bitcoin’s latest advance has pushed the cryptocurrency above one of the market’s most closely watched long-term technical indicators.
According to charting platform Barchart, Bitcoin (BTC) moved above its 200-day moving average on Thursday for the first time since November 2025. That previous period came roughly one month after Bitcoin reached an all-time high above $126,000.
The 200-day moving average is commonly used by traders and investors to assess the broader direction of an asset. When the price trades above this indicator, it can suggest that bullish momentum is strengthening.
As a result, a sustained move above the 200-day moving average could indicate that Bitcoin’s prolonged downtrend is beginning to lose strength.
BTC Price Approaches $73,000
Bitcoin climbed to nearly $73,000 on Thursday, according to TradingView data, extending a strong rebound in the cryptocurrency market.
The BTC price has gained more than 13% since Wednesday, with the rally accelerating after the US Treasury Department announced plans to increase its liquidity-support bond buybacks.
US Treasury Expands Bond Buyback Program
The US Treasury said it would at least double the maximum size of buybacks for longer-dated Treasury securities.
The limit will increase from $2 billion to at least $4 billion per operation, with the expanded program scheduled to begin on Sept. 9.
The Treasury’s goal is to improve liquidity at the longer end of the government bond market. Following the announcement, long-term Treasury yields initially declined, helping improve investor appetite for riskier assets.
Bitcoin and other risk assets can benefit when financial conditions become more supportive and bond yields move lower.
Could Bitcoin Rally Toward $100,000?
The Treasury announcement has also increased optimism surrounding Bitcoin’s outlook.
Standard Chartered’s Geoff Kendrick said the increase in Treasury buybacks could help support a broader Bitcoin rally and potentially push BTC toward $100,000 by the end of the year.
However, Bitcoin’s ability to remain above the 200-day moving average will likely be an important technical development to watch. Holding above the indicator could strengthen the case that the cryptocurrency’s longer-term momentum is beginning to shift.
