The S&P 500 just hit a new all-time high of 7,835, pushing the total market cap of US equities above $71 trillion for the first time ever. That’s an incredible amount of capital sitting in the US stock market. I think the strength in equities is worth paying attention to, especially with Bitcoin $BTC still trading below $87K. If risk appetite continues to stay this strong, I’d expect crypto to eventually start responding to it.