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Crypto

Bitcoin Breaks Above 200-Day Moving Average, Bullish Momentum Gains Traction

Guavy AI Editorial Team
Instruments
BTC
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The Bitcoin price has reclaimed its 200-day moving average for the first time in nearly nine months, indicating a potential shift in the cryptocurrency's broader downtrend.

This significant technical indicator is widely used to gauge longer-term market trends, and breaking above it can be seen as a bullish signal.

The move comes roughly a month after Bitcoin reached an all-time high of over $126,000, and follows the US Treasury's expansion of its bond buybacks.

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