According to @KobeissiLetter, the Magnificent 7 have delivered seven consecutive monthly gains totaling 49%, matching their 2023 streak and second only to the 11-month run in 2016–2017. Source: @KobeissiLetter. The group’s combined market cap has surpassed 20 trillion dollars for the first time and now represents a record 35% of the S&P 500’s market capitalization. Source: @KobeissiLetter. With index leadership this concentrated, S&P 500 performance and volatility are increasingly driven by mega-cap tech earnings and guidance, a key factor for cross-asset risk management. Source: @KobeissiLetter. For crypto traders, BTC and ETH have periodically shown positive correlation with US tech-heavy equity indices, making tech-led risk sentiment a relevant macro input for digital asset positioning. Source: Kaiko Research.

According to @business, Goldman Sachs head of hedge fund coverage Tony Pasquariello said investors should be responsibly bullish as stocks reach fresh all-time highs led by big tech leadership. Source: Bloomberg (@business), Sep 22, 2025. For crypto traders, the post-2020 rise in BTC-equity correlation makes equity momentum a relevant risk factor to watch for BTC and ETH positioning. Source: International Monetary Fund, Crypto Prices Move in Sync With Stocks (Jan 2022); Bank for International Settlements, Quarterly Review (June 2022).