According to The Kobeissi Letter, the S&P 500 has gained around $7.5 trillion in market capitalization since the April 7th low, with the Magnificent 7 tech stocks contributing approximately $4 trillion or 54% of this growth (source: The Kobeissi Letter on X, June 4, 2025). This dominance highlights how Big Tech's performance is central to overall market momentum. For crypto traders, this concentration of gains in tech stocks signals that risk appetite remains focused on growth sectors, which often correlates with increased capital flows into digital assets during bullish equity cycles. Monitoring Big Tech earnings and S&P 500 performance remains critical for anticipating broader shifts in crypto market sentiment.