According to @KobeissiLetter, 49.5% of individual investors reported a bullish six-month stock market outlook in the latest AAII Investor Sentiment Survey, the highest since November 2024 and the sixth week out of the last seven with elevated bullishness, based on AAII data. According to AAII, the weekly survey gauges U.S. retail investors’ expectations for stock prices over the next six months, offering a timely sentiment indicator for market participants. According to IMF research, equity risk-on phases have historically shown stronger co-movement with crypto assets, implying that sustained bullish equity sentiment can increase spillover risk to BTC and ETH.

According to @KobeissiLetter citing the latest AAII Investor Sentiment Survey, 44.3% of individual investors are bullish on the next six months for stocks, the highest since October 8, and near the 12‑month peak of 45.9% per AAII. Elevated retail bullishness near 12‑month highs has historically preceded below‑average short‑term S&P 500 returns, which many traders treat as a contrarian risk signal according to AAII research. For crypto, risk‑on equity sentiment is associated with stronger high‑beta behavior and rising BTC and ETH correlations with U.S. stocks, as observed in recent cycles according to Kaiko market data.