🔭 Equity euphoria is back on the tape The S&P 500 printing a record close after a violent rebound tells me risk appetite is not dead at all — it’s just been sleeping. That matters because when equities start acting like the pain never happened, BTC and ETH usually stop trading like isolated assets and start reacting to the broader liquidity mood. ⚡ I see a constructive backdrop for crypto if this rotation keeps broadening, but I’m not blind to the fragility here: a fast snapback can be more positioning repair than durable conviction. If this is the start of a real macro re-risking, crypto tends to benefit; if it’s just a reflex rally, the spillover into BTC and ETH can fade just as quickly. The key question is whether investors are rebuilding confidence or simply chasing the rebound. 👁️‍🗨️ My read: this is supportive for crypto, but not the kind of environment that rewards complacency. ⚠️ Personal analysis only. Not financial advice. DYOR. #BTC #ETH #Macro