According to The Kobeissi Letter, the VIX rose by 1.36 points over five consecutive sessions while the S&P 500 gained 1.09% over the same five days, marking simultaneous five-day advances in both measures for the first time since the VIX’s launch in 1990, based on Goldman Sachs data cited by The Kobeissi Letter. According to The Kobeissi Letter, the closest precedent was four-day overlaps in 1995 and 1996, per Goldman Sachs. According to The Kobeissi Letter, total call option volume averaged above 40 million contracts per day over the last 20 trading sessions for the first time. According to the IMF’s Global Financial Stability Report 2022, Bitcoin’s correlation with U.S. equities and risk sentiment increased notably after 2020, indicating equity volatility shocks can transmit to digital assets. According to BIS 2022 research on cross-asset spillovers, two-way volatility transmission between crypto and traditional markets has strengthened, suggesting that a rising VIX alongside rising equities can still lift crypto implied volatility. According to IMF and BIS evidence, crypto traders should monitor BTC and ETH options implied volatility, skew, and funding rates as equity-option activity and volatility regimes shift.