According to @StockMKTNewz, the U.S. stock market closed the session lower today, signaling a risk-off finish at the cash close (source: @StockMKTNewz on X, Dec 1, 2025). IMF research shows stock-crypto co-movements strengthened materially post-2020, with BTC-S&P 500 daily return correlation around 0.36 in 2020-2021 versus near zero in 2017-2019, so a red equity close increases near-term spillover risk to BTC and ETH relative to pre-2020 norms (source: International Monetary Fund, Crypto Prices Move More in Sync With Stocks, Jan 2022). The IMF also reports a roughly 17-fold rise in volatility spillovers between Bitcoin and U.S. equities in 2020-2021 compared with 2017-2019, highlighting elevated cross-asset transmission risk after equity sell-offs (source: International Monetary Fund, Crypto Prices Move More in Sync With Stocks, Jan 2022).