According to Compounding Quality, emerging markets are now as cheap relative to the U.S. as they were in March 1999, citing Charlie Bilello as the source. This flags a multi-decade extreme in EM versus U.S. equity valuation levels, source: Charlie Bilello via Compounding Quality. The post does not specify the exact valuation metric or indices referenced, source: Compounding Quality. No direct cryptocurrency market impact or linkage was provided in the post, source: Compounding Quality.