Bitcoin Breaks Above 200-Day Moving Average as Rally Gains Momentum

Bitcoin has broken through its 200-day moving average, a key technical signal that may indicate a shift in its long-term trend. This milestone comes after the U.S. Treasury announced it would increase the size of its bond buybacks to at least $4 billion per operation.

The move initially pushed down long-term Treasury yields and boosted risk appetite across financial markets. Standard Chartered's Geoff Kendrick believes this could fuel a broader Bitcoin rally, potentially reaching $100,000 by year-end.

Bitcoin's price has risen above $75,000, with gains exceeding 13% since the announcement. This increase has also pushed up Ether's price by 18%.