According to @KobeissiLetter, the Nasdaq fell 1.3% at the open and is on track for its first three-day losing streak since August 21, source: @KobeissiLetter. The move follows one of the strongest five-month runs in stock market history and was described as an overdue pullback, source: @KobeissiLetter. Healthy bull markets do not move in a straight line, source: @KobeissiLetter. For traders in risk assets, this equity pullback is relevant to monitoring BTC and ETH volatility and cross-asset risk sentiment during the U.S. session, source: @KobeissiLetter.

According to Mihir (@RhythmicAnalyst) on Twitter, the S&P 500 Index experienced a sustained bull run from January 2023, with price action consistently tracking a key trendline. The index touched this trendline twice, as highlighted in the referenced chart, before breaking down in March 2025. Following this breakdown, a technical pullback is now underway, which aligns with typical market behavior after major support levels are breached (source: @RhythmicAnalyst via Twitter, May 22, 2025). This trend reversal and subsequent pullback signal increased volatility for both traditional equities and crypto markets, as historical correlations suggest that S&P 500 downturns often accelerate risk-off sentiment in Bitcoin, Ethereum, and altcoin trading. Traders should closely monitor macro-driven price action, particularly given the heightened sensitivity of crypto assets to equity market disruptions.

According to The Kobeissi Letter on Twitter, US financial conditions have reached their tightest level since the 2020 pandemic, surpassing the constraints of the rapid Fed hike cycle in 2022. This tightening is attributed to a pullback in stock markets, which could have significant implications for cryptocurrency trading as investors seek alternative assets. [source: The Kobeissi Letter]

According to The Kobeissi Letter on Twitter, US financial conditions have become the tightest since the 2020 pandemic, surpassing the tightness experienced during the rapid Fed hike cycle of 2022. This shift is primarily due to a significant pullback in stock markets, indicating increased pressures on liquidity and borrowing costs affecting cryptocurrency trading and investment strategies.