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Analysis: Crypto market breadth stronger than S&P 500, 88 top tokens above 200-day moving average

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Analysis: Crypto market breadth stronger than S&P 500, 88 top tokens above 200-day moving average

PANews reported on September 23, citing CoinDesk, that although the S&P 500 is near its all-time high, market breadth remains weak. As of Wednesday, 257 S&P 500 constituents had fallen below their 200-day moving average. By contrast, the crypto market is showing relatively strong performance, with 88 of the top 100 tokens by market cap (including BTC and ETH) above their 200-day simple moving average (SMA), and most tokens simultaneously above their 50-day, 100-day, and 200-day moving averages. CoinDesk noted that most crypto assets such as BTC, ETH, XRP, and SOL remain significantly below their all-time highs.

Dick Lo, founder and CEO of TDX Strategies, said that continued institutional inflows through ETFs are helping major crypto assets and some altcoins maintain momentum, adding that the key level to watch for BTC is currently $90,000, with the 2026 high of $97,900 as a medium-term target. Bernardo Brites, co-founder and CEO of Trace Finance, said that funds are currently flowing in mainly through ETFs rather than stablecoins, making the market more prone to pullbacks.



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