Bitcoin Breaks Above Key Technical Indicator Amid Treasury Market Boost
Bitcoin has broken above its 200-day moving average for the first time since November last year, potentially signaling a weakening of its broader downtrend. The cryptocurrency's price climbed to nearly $73,000 on Thursday, according to TradingView data.
This move marks a significant technical indicator, as breaks above the 200-day moving average are often seen as bullish signals. Barchart highlighted this development, noting that Bitcoin had not crossed above its 200-day moving average since November 2025, just a month after it reached an all-time high of over $126,000.
The US Treasury Department's announcement to double the size of liquidity-support buybacks for longer-dated Treasury securities on Wednesday may have contributed to this rally. The operation aims to improve liquidity at the long end of the Treasury market and has helped boost risk appetite across financial markets.