Bitcoin Breaks Above 200-Day Moving Average Amid US Treasury Liquidity Push

Bitcoin has reclaimed its 200-day moving average for the first time since November 2025, a key technical milestone that signals the cryptocurrency's months-long downtrend may be losing steam. Charting platform Barchart flagged the crossover on Thursday as BTC climbed to nearly $73,000, posting a gain of more than 13% in just 24 hours. The last time Bitcoin traded above this widely watched long-term indicator was roughly a month after it set an all-time high above $126,000.

The rally was triggered by the US Treasury Department's announcement that it would at least double the maximum size of its liquidity-support buybacks for longer-dated securities, raising the cap from $2 billion to at least $4 billion per operation starting September 9. The shift aimed to improve liquidity at the long end of the Treasury market, initially pushing long-term yields lower and reviving risk appetite across global financial markets.

Standard Chartered's Geoff Kendrick said the Treasury's move could fuel a broader Bitcoin rally toward $100,000 by year-end. The bullish outlook was reinforced by strong institutional demand, with Bitcoin ETFs drawing $517 million in their largest single-day inflow since early May. Together, the technical breakout, supportive macro policy, and renewed ETF appetite suggest Bitcoin's recovery may have structural momentum rather than just short-term speculation.

The context around the rally remains cautious. US debt has now topped $40 trillion, fueling ongoing debate about Bitcoin's role as a hedge against fiscal expansion. Meanwhile, crypto short liquidations surpassed $3 billion as BTC approached $72,000, underscoring how swiftly bearish positions were unwound. Even so, the 200-day moving average reclaim marks a pivotal psychological and technical turning point for Bitcoin heading into the final quarter of 2026.