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Nine months below the 200-day moving average ends for $BTC.
Bitcoin reclaimed the level for the first time since November, with the US Treasury's expansion of its bond buyback program the named catalyst for the momentum that carried the price through.
Bond buybacks involve the Treasury repurchasing its own outstanding securities, releasing cash into the financial system at the margin.
In a market where crypto has historically traded as a liquidity-sensitive risk asset, the connection to a Bitcoin rally is mechanically plausible, and the buyback expansion is presented as the event that gave the rally its footing.
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