Bitcoin has crossed a closely watched long-term technical threshold for the first time in roughly nine months, offering a potential signal that the cryptocurrency’s extended downtrend is losing its grip.
The 200-day moving average reclaimed
Charting platform Barchart flagged on Thursday that Bitcoin’s price had moved above its 200-day moving average for the first time since November 2025, a crossing that came approximately one month after BTC hit an all-time high above $126,000. The 200-day moving average is a widely followed indicator of longer-term trend direction, and a sustained hold above it is commonly read as a sign of recovering bullish momentum.
According to TradingView data, Bitcoin climbed to nearly $73,000 on Thursday as the rally gathered pace.
Treasury buyback expansion fuels the move
The catalyst behind Bitcoin’s surge was a Wednesday announcement from the US Treasury Department, which said it would at least double the size of its liquidity-support buybacks for longer-dated Treasury securities. The maximum per operation will rise from $2 billion to at least $4 billion, with the change taking effect from September 9. Bitcoin has gained more than 13% since that announcement.
The operation is designed to improve liquidity at the long end of the Treasury market. It initially pushed long-term yields lower, which helped lift risk appetite across broader financial markets.
Standard Chartered’s Geoff Kendrick said following the Treasury’s announcement that the move could fuel a broader Bitcoin rally toward $100,000 by year-end.
The move has extended since
A single crossing is not usually enough to call a trend, since a brief move above the line can reverse as quickly as it came. That question has largely answered itself here.
Bitcoin was trading around $78,500 on Friday, up roughly 8% on the day and well clear of the level it crossed on Thursday, putting the market comfortably above the indicator rather than testing it. The 200-day moving average matters because it acts as a rough dividing line between longer-term bullish and bearish regimes, and Bitcoin has now spent consecutive sessions on the upper side of it.
