According to @KobeissiLetter, global equities reached a record $143.8 trillion market cap, up $33.8 trillion or 31% from the April 2025 low and up $83.0 trillion or 137% since the 2020 low, with the source projecting gains since 2020 could exceed $100 trillion by end-2025 and total market cap could surpass $150 trillion, source: The Kobeissi Letter on X, Sep 18, 2025. For crypto traders, stronger post-2020 co-movements between Bitcoin and equities suggest a supportive liquidity backdrop for BTC and ETH when stocks rally, source: International Monetary Fund 2022 Crypto Prices Move More in Sync With Stocks; Bank for International Settlements 2023 Quarterly Review on crypto–equity spillovers. Trading angle: maintain a pro-risk bias while monitoring cross-asset beta and the BTC–equity rolling correlation to time pullback entries in BTC and ETH during equity strength, source: International Monetary Fund 2022; Bank for International Settlements 2023.