TechFlow news, on March 25, according to CoinDesk, the S&P 500 index broke above its 200-day moving average (200 DMA) on March 24, potentially signaling the arrival of a long-term bullish trend and also providing a positive signal for Bitcoin (BTC).
The S&P 500 rose 1.7% on Monday, continuing last week's upward momentum and surpassing the key technical level represented by the average closing price over the past 200 trading days. Previously, the index had undergone a prolonged 10% correction, and this breakout could mark the end of the market's correction phase. The 200-day moving average is commonly used as an important reference for assessing market trends and potential turning points.
Bitcoin’s recent price movement has been synchronized with the S&P 500. After breaking above its own 200-day moving average ($85,046) over the weekend, Bitcoin is now trading above $88,000. The next key resistance level lies at $93,245, corresponding to the on-chain average cost basis of short-term holders.
