Bitcoin continued its strong rally on Thursday, climbing close to $72,000 and gaining more than 15% since the start of the week.
The world’s largest cryptocurrency has risen sharply over the past few days, helped by a series of positive developments. Among the biggest drivers were U.S. Treasury Secretary Scott Bessent’s announcement of Treasury debt buybacks and President Donald Trump’s renewed push for Congress to move forward with the Clarity Act, a bill aimed at creating clearer rules for the crypto industry.
The positive momentum was not limited to Bitcoin. Crypto-related stocks also moved higher. Shares of Strategy, the largest corporate holder of Bitcoin, posted strong gains, while Coinbase, MARA Holdings, and Bullish also saw their stock prices rise as investor confidence returned to the sector.
Bitcoin’s latest move has also pushed it above several important technical levels that traders closely watch. One of those is the short-term holder cost basis, which represents the average purchase price of coins held by investors for less than 155 days. Trading above this level suggests many recent buyers are now back in profit, which is often viewed as a positive sign for the market.
The cryptocurrency has also climbed above its 200-day moving average, another widely followed indicator used to measure long-term market trends. Moving above this level is generally seen as a sign that market sentiment is improving.
Analysts are now watching the next major level around $75,700. A sustained move above that area could place the average active Bitcoin investor in profit and strengthen the case for a broader bullish trend.
With Bitcoin approaching $72,000, investors are closely monitoring whether the rally can continue and push prices toward new milestones in the coming weeks.
