{"id":840209,"date":"2025-04-09T18:15:21","date_gmt":"2025-04-09T23:15:21","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/09\/bitcoin-sp-500-struggle-below-key-technical-level-in-sign-of-further-btc-price-drops\/"},"modified":"2025-04-09T18:15:21","modified_gmt":"2025-04-09T23:15:21","slug":"bitcoin-sp-500-struggle-below-key-technical-level-in-sign-of-further-btc-price-drops","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/09\/bitcoin-sp-500-struggle-below-key-technical-level-in-sign-of-further-btc-price-drops\/","title":{"rendered":"Bitcoin, S&P 500 Struggle Below Key Technical Level in Sign of Further BTC Price Drops"},"content":{"rendered":"

Bitcoins <\/p>\n

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Bitcoins Bitcoin, S&P 500 Struggle Below Key Technical Level in Sign of Further BTC Price Drops<\/h2>\n

Bitcoins Short-term bitcoin holders have sold over 100,000 BTC since February.<\/h2>\n

Updated Mar 13, 2025, 5:13\u202fp.m. <\/span>Published Mar 13, 2025, 4:47\u202fp.m. <\/span><\/p>\n<\/div>\n

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Bitcoin (BTC<\/a>) continued to struggle on Thursday as it fought to stay above $80,000. The largest cryptocurrency by market cap is currently down 3% on the day. It has declined 13% in the first quarter and is about 30% off its all-time high from January. <\/p>\n

According to Glassnode data, short-term holders \u2014 investors who have held bitcoin for less than 155 days \u2014 are primarily considered speculators who tend to enter the market during price peaks or periods of market euphoria. Since February, they have sold more than 100,000 BTC (about $8 billion at current prices), a sign they’re looking to cut losses (or lock in any profits) before prices fall further.<\/p>\n

The decline has pushed the bitcoin price below its 200-day moving average of $86,300. The average is an important metric for long-term market trends, and BTC isn’t the only risk-on investment to drop below.<\/p>\n

U.S. equities, as measured by the S&P 500, have also lost that level. The index is currently around 5,537 while the 200-day average is at 5,738.<\/p>\n

According to Joe Carlasare<\/a>, a commercial litigator supporting bitcoin, when the S&P 500 struggles to reclaim the 200-DMA, history suggests lower prices are in the offing. <\/p>\n

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“The S&P 500 continues to struggle to reclaim the 200 day,” he wrote on X. “If we can\u2019t get a big rally above it soon, it makes sense to expect lower prices Look back historically what happens when we loose the 200 day.”<\/p>\n<\/div>\n<\/div>\n

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James Van Straten<\/a><\/h5>\n

James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.<\/p>\n

In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).<\/p>\n

X icon<\/title><\/svg><\/a><\/g><\/svg><\/a><\/p>\n<\/div>\n

\"bitcoins<\/a><\/p>\n<\/div>\n

James Van Straten Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin, S&P 500 Struggle Below Key Technical Level in Sign of Further BTC Price Drops Short-term bitcoin holders have sold over 100,000 BTC since February. Updated Mar 13, 2025, 5:13\u202fp.m. Published Mar 13, 2025, 4:47\u202fp.m. Bitcoin (BTC) continued to struggle on Thursday as it fought to stay above $80,000. The largest cryptocurrency by market cap<\/p>\n","protected":false},"author":1,"featured_media":840210,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,24330],"tags":[11476],"class_list":["post-840209","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","category-struggle","tag-bitcoins"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/840209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=840209"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/840209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/840210"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=840209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=840209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=840209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}