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Bitcoin nears $72,000 as bulls extend rally

CoinDesk reports bitcoin is up more than 15% since Monday and has moved above its short-term holder cost basis of $67,138 and its 200-day SMA at $68,969.

Reported · Written up by our desk · Market Structure

Bitcoin approached $72,000 during the European morning on Thursday, rising more than 3.5% in 24 hours and more than 15% since Monday, as bullish momentum picked up across the digital asset market, according to CoinDesk.

CoinDesk also cited on-chain and technical benchmarks, saying bitcoin moved above the short-term holder cost basis at $67,138, a level that indicates recent buyers have collectively returned to profit. The article added that bitcoin has also climbed above its 200-day simple moving average, currently at $68,969, a widely used longer-term trend indicator.

Several catalysts were described as helping drive the move, starting with U.S. Treasury Secretary Scott Bessent announcing Treasury debt buybacks. CoinDesk further noted that after that announcement, President Trump urged Congress to move on the Clarity Act during a White House crypto event.

Crypto-related stocks were reported to be rallying alongside bitcoin. CoinDesk said Strategy (MSTR) was up about 10% in pre-market after gaining 13% on Wednesday, while Bullish (BLSH) rose about 5% after a more than 9% gain on Wednesday, with MARA Holdings and Coinbase also advancing in pre-market following prior-day gains.

Latest closeBitcoin $71,870.21 ▲3.8%

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