Bitcoin Rockets Above 200DMA as It Hits $64K

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	Forwarded this email? Subscribe here for more Bullish Bitcoin catapults to $64,000 Bitcoin Rockets Above 200DMA as It Hits $64K Bitcoin Magazine Pro Aug 26   READ IN APP   GM. Today’s headlines: Bitcoin shoots up to $64,000, now above its 200-day moving average. Spot Bitcoin ETF’s see highest single-day inflow since July. Telegram founder and CEO Pavel Durov arrested in France. Bitcoin shot up over the weekend back to levels not seen since the start of the month, now around $64,000.  Over the past week, Bitcoin has trended up +9.26%. Figure 1: Bitcoin past week price performance. View Live Chart 🔍 Bitcoin has now recovered from the price drop that occurred in early August. It is down just -5.23% versus 1-month ago. Figure 2: Bitcoin past 1-month performance. View Live Chart 🔍 News You Need to Know Spot Bitcoin ETF’s see their highest single-day inflow since July. France’s Anti Fraud Office arrests Telegram founder. Tim Draper invests $2.5M in Ark Labs to expand Bitcoin adoption. Thai authorities raid illegal Bitcoin mining operation behind power outages. The Big Story Bitcoin Back Above it’s 200-Day Moving Average After a sharp price increase over the weekend, $BTC is now trading back above its 200-day moving average. This is a crucial level for traders. Typically considered bullish when the price is back above its 200DMA.   For much of August, $BTC had been trading below the 200DMA, adding to market participants' fear and concern. Ultimate support was found at the 1-year moving average, which $BTC perfectly tapped before rallying upwards. Figure 3: $BTC rallies off the 1-year MA to break above the 200DMA. This can be considered a very bullish price action, which is likely to restore positive sentiment to the market in the coming days.  Bitcoin trades above its 1-year moving average in a bull market. So, given Bitcoin was able to stay above the 1-year MA in the recent price drop, it gives further confirmation that we are still in a bull market. Figure 4: Bitcoin is still trading above its 1-year moving average. Key Chart Each week, our BM Pro Analysts hand-pick a must-see chart for you. This week: US Federal Reserve Debt Versus Bitcoin Figure 5: US Federal Reserve Debt vs BTC. View Live Chart 🔍 What It Is: U.S. Federal Reserve debt, often referred to as the national debt, is the total amount of money that the federal government owes to creditors, which includes both domestic and foreign entities. It is primarily funded through the issuance of government securities, like Treasury bonds, and represents the accumulation of budget deficits over time. Why this matters: Large and growing US Fed Debt contributes to inflation, as an excess supply of money can drive up prices.  This, in turn, impacts the cost of living crisis for many people and the sense of growing wealth inequality. Additionally, a large balance sheet expansion by the Fed can create risks in the financial system if assets on its balance sheet decline in value or if it needs to rapidly unwind its positions, potentially causing market disruptions.  What’s happening now: The total Federal Reserve debt levels are now more than $35 trillion.  The chart shows that the debt rate of growth is not slowing over time. This further strengthens the long-term case for Bitcoin. It is a hard asset that has a fixed monetary policy. As a decentralized currency, Bitcoin is independent of the demands of politicians. As distrust in large institutions and governments grows, we can expect more attention on this chart over time. This chart is available for Bitcoin Magazine Pro Advanced subscribers to view. You can join them here. The Bitcoin Magazine Pro Team. 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Explore Bitcoin Magazine Pro to access powerful tools and analytics that can help you stay ahead of the curve. Invest wisely, stay informed, and let data drive your decisions. Thank you for reading, and here’s to your future success in the Bitcoin market! Thanks for reading Bitcoin Magazine Pro! Subscribe for free to receive new posts and support our work. Thanks for reading Bitcoin Magazine Pro! Subscribe for free to receive new posts and support our work. Subscribed 🎁 Special Offer: Use Code: BMPRO For 10% OFF All Bitcoin Conference Tickets Disclaimer: This newsletter is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions. We sincerely appreciate your support and hope you found this content valuable. Please leave a like and let us know your thoughts in the comments section; we always welcome feedback from our audience! 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