The S&P 500 is hovering near record highs, but a majority of its constituents are trading below their 200-day moving averages, according to data shared by analyst Scott Melker on X.<\/p>\n
On the other hand, 88 of the top 100 cryptocurrencies are above their MAs, highlighting the contrast in market breadth, with Melker arguing that crypto\u2019s technical position looks healthier even though many major tokens are still well below their all-time highs.<\/p>\n
In his post, the trader reported<\/a> that 257 S&P 500 stocks were below their 200-day averages as of Wednesday, leaving roughly 49% of the index above that widely watched trend measure. He described the market\u2019s internal condition as bearish despite the index\u2019s proximity to record levels.<\/p>\n Crypto presented a different picture. Bitcoin and Ethereum were among the 88 top-100 tokens above their 200-day simple moving averages, and most of those assets were also holding above their 50-day and 100-day averages.<\/p>\n Melker called the combination a \u201cclean, bullish configuration across the board.\u201d He also pointed to the distance between current crypto prices and previous highs, contrasting them with equities that, in his view, have already priced in substantial good news.<\/p>\n \u201cWeak breadth in stocks near highs has historically been a yellow flag,\u201d stated the market watcher. \u201cStrong breadth in crypto while prices remain far from peaks is the opposite setup.\u201d<\/p>\n Remember, the figures measure how many assets are trading above a long-term average, rather than how far prices have risen or whether gains are sustainable, so they only offer a snapshot of market participation, not a guarantee that either market will continue in its current direction.<\/p>\n Bitcoin\u2019s recent price behavior can add context to the comparison, having rebounded from around $75,000 after setbacks including the failed CLARITY Act vote and the Federal Reserve raising interest rates for the first time since July 2023, to briefly move above<\/a> $87,000 before facing renewed selling.<\/p>\n At the time of writing, CoinGecko data put BTC around $84,000, down nearly 3% over 24 hours, but up by about 10% in the last seven days. Ethereum was trading near $2,700, also down close to 3% in one day while having gained 10% in a week.<\/p>\n XRP\u2019s 6.5% drop in 24 hours was only beaten by Dogecoin\u2019s nearly 7% plunge in the same period and was nearly matched by Zcash, which also shaved more than 6% from its price. The dips pushed the broader crypto market capitalization to around $2.96 trillion, nearly 3% lower than where it was yesterday, with Bitcoin dominance at just over 57%.<\/p>\n Meanwhile, Santiment data shows Bitcoin\u2019s correlations with stocks, gold, and the dollar have weakened<\/a>, and that\u00a0shift complicates any assumption that crypto will simply follow equities.<\/p>\n The post Crypto vs Stocks: What the 200-Day Moving Average Shows Now<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The S&P 500 is hovering near record highs, but a majority of its constituents are trading below their 200-day moving averages, according to data shared by analyst Scott Melker on X. On the other hand, 88 of the top 100 cryptocurrencies are above their MAs, highlighting the contrast in market breadth, with Melker arguing that […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-231806","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/231806"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=231806"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/231806\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=231806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=231806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=231806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Top Cryptocurrencies See Red<\/h2>\n