According to Eric Balchunas, SPY recorded its best single-day performance since May, fully erasing the losses triggered by the previous Friday's jobs report selloff. This significant rebound in SPY indicates heightened investor confidence, which may positively impact correlated crypto assets given the historical linkage between equity market sentiment and cryptocurrency trading momentum. Source: Eric Balchunas.

According to Eric Balchunas, purchasing SPY at the end of 2019, even after a 29% gain, and holding through the COVID crash results in a cumulative gain of 66% to date, translating to an annual return of 10%. This performance exceeds SPY's historical average, showcasing the benefits of long-term holding and dollar-cost averaging (DCA) strategies.