The S&P 500 Index Recovers Its 200-Day Moving Average, and Bitcoin Breaks Through Simultaneously
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Odaily Planet Daily News, the S&P 500 index rose 1.7% on Monday, breaking through the 200-day moving average (200DMA), providing technical support for the recent market recovery. Bitcoin (BTC) also rose simultaneously, breaking through the 200DMA of $85,046 over the weekend and currently trading at $88,000. The short-term resistance level is at $93,245, which corresponds to the on-chain average acquisition cost of short-term holders and has historically been a key indicator of a bull market. The stock market correction may have ended, and combined with BTC's key technical breakthrough, this could bring new upward momentum to the market. (CoinDesk)
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