CoinEx News: Bitcoin traded near $74,859 on August 21, gaining about 7.4% over 24 hours after moving above its 200-day simple moving average near $69,000 for the first time since November 2025. Data showed the long-term technical breakthrough as Bitcoin extended its gain since Wednesday to more than 13%, while the rally coincided with improving market liquidity after the US Treasury expanded its bond-buyback operations and with additional buying from traders closing bearish positions.

The 200-day average is widely viewed as a rough boundary between longer-term bullish and bearish market conditions, but one move above it does not confirm that a new bull market has begun; The $69,000–$70,000 area is the clearest zone to watch, as sustained daily closes above that range followed by a successful retest would strengthen the case that the previous downtrend is weakening, while a quick drop back below the average would raise the risk of a false breakout, meaning traders should focus on whether the reclaimed level holds rather than treating the crossover alone as proof that the broader trend has fully reversed.