According to @rovercrc, gold and the US500 (S&P 500) are at new all-time highs and Bitcoin (BTC) could be next, implying a potential risk-on tailwind for crypto traders (source: @rovercrc on X, Sep 5, 2025). For actionable levels, BTC’s last record high was near $73,800 in March 2024, so traders often look for a daily close above that prior ATH with rising spot volume to confirm a breakout continuation (source: TradingView BTCUSD index data; Edwards and Magee, Technical Analysis of Stock Trends). To validate cross-market momentum, monitor BTC’s correlation with SPX, BTC dominance, perpetuals funding rates, and open interest; strengthening dominance with positive but not extreme funding and expanding OI typically supports trend continuation (source: Coin Metrics State of the Network reports; Glassnode market structure insights). Note that the claims of new all-time highs in gold and the US500 are assertions by the author and were not independently verified here; traders should confirm via independent price feeds such as XAUUSD and SPX before positioning (source: @rovercrc on X; TradingView price feeds).

According to @EricBalchunas, the current bull market shows risk appetite spilling into multiple asset classes, with the S&P 500 printing fresh all-time highs, signaling a broad risk-on backdrop, source: Eric Balchunas on X (Aug 31, 2025). For trading, his read-through suggests using SPX strength as a proxy for risk-on conditions and monitoring whether crypto liquidity and momentum follow through, especially in BTC and ETH, source: Eric Balchunas on X (Aug 31, 2025). He highlights the disconnect between bearish narratives and price action, implying that positioning may still be catching up to the rally, which traders can track via cross-asset flows and breadth, source: Eric Balchunas on X (Aug 31, 2025).