According to @KobeissiLetter, the S&P 500 reached 6,600 for the first time and is up 36% from its April 2025 bottom, marking one of the strongest five-month rallies in U.S. history. Source: The Kobeissi Letter on X, Sep 12, 2025. For traders, a fresh SPX all-time high reinforces a risk-on regime where crypto and equities have historically moved more in sync; the IMF documented that BTC–S&P 500 correlations rose markedly during 2020–2021, making it prudent to monitor BTC and ETH beta to equities when stocks surge. Sources: The Kobeissi Letter on X, Sep 12, 2025; International Monetary Fund, Jan 2022, Crypto Prices Move More in Sync With Stocks.