Crypto Breadth Surpasses Stocks as Bitcoin and Ether Hold Strong
Crypto market breadth has surpassed that of the US stock market, according to data from Wednesday, Sept. 23. Bitcoin (BTC) and Ether (ETH) are among the top cryptocurrencies trading above their 200-day simple moving averages, with 88 out of the top 100 assets holding above this trend line.
By contrast, only about 49% of the S&P 500's stocks were above their 200-day averages. Market analyst Scott Melker described the combination as a 'clean, bullish configuration across the board.'