According to Mihir (@RhythmicAnalyst), the S&P 500 index on the 3-month timeframe is currently showing a potential market top, as indicated by a technical indicator that accurately signaled the last two peaks (source: Twitter, May 27, 2025). For this bearish signal to be invalidated, a higher monthly close is now required. Traders should monitor the S&P 500 for confirmation, as a confirmed top could increase volatility and influence crypto market sentiment, especially for risk-on assets like Bitcoin and Ethereum.