Bitcoin surged above its 200-day moving average on Thursday, marking the first such breach since November 2025 and signaling a potential shift in the cryptocurrency’s multi-month downtrend.
The digital asset reached nearly $73,000, according to TradingView data, after a 13% gain over the prior 24 hours. The 200-day moving average is a widely tracked technical indicator used to assess long-term market direction, with moves above the level often interpreted as bullish momentum.
The breakout followed the U.S. Treasury’s announcement that it would at least double the size of liquidity-support buybacks for longer-dated Treasury securities, increasing the maximum from $2 billion to at least $4 billion per operation starting September 9. The move aims to enhance liquidity in the long-end of the Treasury market, initially pushing long-term yields lower and supporting risk appetite across financial markets.
Standard Chartered’s Geoff Kendrick suggested the Treasury’s liquidity measures could help propel Bitcoin toward $100,000 by year-end. The cryptocurrency’s latest rally coincides with its highest levels since late 2025, when it briefly surpassed $126,000.
Bitcoin exchange-traded funds also saw inflows of $517 million on Wednesday, the largest single-day increase since early May, according to market data.
