CoinDesk Says the Crypto Market Does Not Have a Market-Breadth Problem Similar to the S&P 500
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AT A GLANCE
88 leading tokens are above their 200-day moving averages, but most remain below their all-time highs.
Article
Analysis: Crypto market breadth outperforms the S&P 500, with 88 leading tokens above their 200-day moving averages
PANews reported on September 23, according to CoinDesk, that although the S&P 500 Index is near an all-time high, its market breadth is weak. As of Wednesday, 257 S&P 500 constituents were below their 200-day moving averages. By comparison, the crypto market has performed relatively strongly: 88 of the top 100 tokens by market capitalization (including BTC and ETH) were above their 200-day simple moving average (SMA), and most tokens were also above their 50-day, 100-day, and 200-day moving averages. CoinDesk noted that most crypto assets, including BTC, ETH, XRP, and SOL, remain materially below their all-time highs. Dick Lo, founder and CEO of TDX Strategies, said that continued institutional inflows through ETF products have helped major crypto assets and certain altcoins maintain momentum, adding that the key level currently in focus for BTC is US$90,000, and 2026 high...
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Key points
01
As of Wednesday, 257 S&P 500 constituents were below their 200-day moving averages.
02
88 of the top 100 tokens by market capitalization (including BTC and ETH) were above their 200-day SMA.
03
Most tokens were simultaneously above their 50-day, 100-day, and 200-day moving averages.
04
Most crypto assets, including BTC, ETH, XRP, and SOL, remain materially below their all-time highs.
05
Dick Lo said that continued institutional inflows through ETF products have helped major crypto assets and certain altcoins maintain momentum.
06
Dick Lo said that the key level currently in focus for BTC is US$90,000.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The 200-day moving average is a reference line used to assess long-term price trends. Trading above it generally indicates that the recent price is relatively strong compared with the past, but the price may still be far below its all-time high.
Why it matters to readers
The data indicate that price breadth among leading tokens is temporarily stronger than among S&P 500 constituents, but this does not mean that all crypto assets are already near their all-time highs.
You can track both how many assets in the market are above their long-term moving averages and how far they remain from their all-time highs.
Risks and unknowns
The source is truncated at “2026 high...,” so the related information is incomplete.
The data are stated as of Wednesday, but the specific date is not provided.
The statement that continued institutional inflows through ETF products are driving momentum is Dick Lo's view and is not supported by independently verified data.
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Related concepts
200-day Simple Moving Average (SMA)
This term is not in the glossary yet. Browse related concepts in the glossary.
