Bitcoin breaks above 200-day moving average for first time since November
Summary
Bitcoin’s recent rally pushed its price above the 200-day moving average for the first time in about nine months, a technical level often seen as a gauge of long-term trend strength. The break above this indicator suggests Bitcoin’s broader downtrend may be losing momentum if the move holds. BTC rose to nearly $73,000 and gained more than 13% after the US Treasury said it would at least double liquidity-support buybacks for longer-dated Treasury securities, starting Sept. 9. The announcement helped lift risk appetite by easing long-end yields. Some market watchers see the improved backdrop as potentially supportive of a larger Bitcoin move, including a possible push toward $100,000 by year-end.
