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Bitcoin breaks above 200-day moving average for first time since November
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- DeepHorus
Bitcoin has surged above its 200-day moving average for the first time since November 2025, marking a significant technical milestone in the cryptocurrency's rally. The move occurred as Bitcoin climbed to nearly $73,000 on Thursday, according to TradingView data, representing a gain of over 13% since Wednesday. This breakthrough signals a potential shift in market momentum after a prolonged downtrend.
The 200-day moving average is a crucial long-term indicator used by traders to gauge market trends. A sustained move above this level is widely considered a bullish signal, suggesting that Bitcoin's months-long decline may be weakening. The last time Bitcoin traded above this average was in November 2025, roughly a month after it reached an all-time high above $126,000.
The rally was triggered by a policy shift from the US Treasury Department, which announced it would at least double its liquidity-support buybacks for longer-dated Treasury securities. The maximum size per operation was raised from $2 billion to at least $4 billion, effective September 9. This move aimed to improve liquidity in the Treasury market and initially pushed long-term yields lower.
The Treasury's announcement bolstered risk appetite across global financial markets, creating a favorable environment for risk assets like Bitcoin. This macroeconomic development provided the catalyst for the cryptocurrency's sharp upward movement over the past two days.
Market analysts have reacted positively to the technical breakout and the supporting fundamental news. Geoff Kendrick of Standard Chartered suggested that the Treasury's action could help fuel a broader Bitcoin rally toward $100,000 by the end of the year. This perspective highlights the growing institutional interest in the cryptocurrency's potential.
The price surge coincides with strong institutional inflows into Bitcoin exchange-traded funds (ETFs). These funds attracted $517 million in a single day, marking their largest one-day inflow since early May. This influx of capital further validates the strengthening bullish sentiment among investors.
Looking ahead, the key question is whether Bitcoin can maintain its position above the 200-day moving average. A sustained breakout would confirm a longer-term trend reversal, while a failure to hold could see the price retreat. The combination of technical indicators, institutional flows, and supportive macroeconomic policy sets the stage for potential continued volatility and upward momentum in the near term.
