Bitcoin Breaks Above 200-Day Moving Average for First Time in Nine Months, Nears $73,000

Bitcoin has broken above its 200-day moving average for the first time in about nine months, fueling hopes that it may be emerging from a long-term downtrend.

Cointelegraph reported on August 20 that chart-analysis platform Barchart said Bitcoin had climbed above its 200-day moving average for the first time since November 2025. The move comes about nine months after Bitcoin hit a record high above $126,000.

Bitcoin at one point approached $73,000 in intraday trading, according to TradingView. It was up more than 13% from a day earlier.

The rally is also drawing support from the U.S. Treasury Department's plan to expand purchases of long-term government bonds. The Treasury said it will increase the maximum size of each purchase under its long-term bond-buying program to more than $4 billion from $2 billion, with the change taking effect on Sept. 9.

Long-term Treasury yields fell after the announcement, spurring buying across risk assets. Bitcoin also added to its gains after breaking above its 200-day moving average, a level widely viewed as a key technical resistance line.

Geoff Kendrick, Standard Chartered's head of digital asset research, said after the Treasury announcement that the measure could help drive a Bitcoin rally to $100,000 by year-end.