S&P 500 Prints New All-Time High, Extending 9-Week Win Streak The S&P 500 just hit a fresh all-time high, marking its longest weekly winning streak since 2023. That risk-on momentum is spilling into crypto — BTC and ETH are tracking equities closely, moving in tandem instead of diverging. What’s driving it: The rally reflects easing macro liquidity and fading fears around further rate hikes. Capital is chasing the same “growth” narrative across both equities and crypto. The catch: On-chain data tells a more cautious story. BTC and ETH are seeing only modest net inflows, and active addresses are flattening. That suggests the current crypto move is sentiment-driven more than fundamentally driven. My take: Short-term, I’m leaning bullish on the equity-crypto correlation while capital flows stay aligned. But I’m watching closely for a macro shock. If equities lose momentum, crypto’s upside could unwind faster than the next earnings report. ⚡ Key signal to watch: Equity momentum. If it stalls, expect crypto to feel it first and harder. Not financial advice. DYOR.