According to Eric Balchunas, the S&P 500 index (SPX) declined by 50 basis points, which is considered a minimal move with barely any noticeable market impact (source: Eric Balchunas on Twitter, June 22, 2025). For cryptocurrency traders, this muted reaction from traditional equities may signal ongoing risk appetite or a lack of macro-driven volatility, potentially supporting stability in major coins like BTC and ETH. Monitoring SPX performance remains critical as sudden shifts could spill over into crypto markets, influencing short-term trading strategies.