BTC crosses key technical level for the first time since November as Treasury’s $4 billion bond buyback plan boosts risk assets.
Bitcoin climbed above its 200-day moving average for the first time in nine months, reaching nearly $73,000 on Thursday. The move follows the US Treasury’s decision to double its liquidity-support buybacks for longer-dated Treasury securities to at least $4 billion per operation starting September 9.
The 200-day moving average is a widely tracked indicator of long-term market trends, with breaks above it often signaling bullish momentum. Bitcoin last crossed this level in November 2025, shortly after hitting an all-time high above $126,000. The rally has pushed BTC up more than 13% since Wednesday.
The Treasury’s buyback program aims to improve liquidity in the long end of the Treasury market, initially lowering long-term yields and supporting broader risk appetite. The expansion from $2 billion to $4 billion per operation has fueled optimism across financial markets.