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By James Van Straten, AI Boost|Edited by Stephen Alpher
Mar 24, 2025, 4:27 p.m. UTC
- Potentially signaling a bullish long-term trend, the S&P 500 has pushed above its 200-day moving average for the first time since March 10.
- Bitcoin has also broken above its 200DMA at $85,046 and is now targeting the short-term holder realized price resistance level at $93,245, historically a key bull market indicator.
The correction in stocks could be over based on a key technical indicator and that might be good news for bitcoin (BTC), which has also breached similar resistance.
Ahead 1.7% on Monday to follow up on last week’s gains, the S&P 500 has moved above its 200-day moving average (200 DMA), after correcting as much as 10% in recent months. This 200 DMA is calculated by taking the mean of the closing prices over the past 200 trading days and is often used to assess broader market trends and potential turning points.
STORY CONTINUES BELOW
The S&P 500 last crossed that gauge on March 10, and — though declining a bit shortly after — resumed an uptrend which has continued through today.
Bitcoin (BTC) has moved in step, now trading above $88,000 after decisively breaking through its own 200 DMA of $85,046 over the weekend. The next major resistance level is at $93,245, which corresponds to the short-term holder realized price — i.e., the average on-chain acquisition cost of coins held outside exchange reserves and moved within the last 155 days. These coins are considered the most likely to be spent at any given time.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
