According to Reuters Business, U.S. stocks closed lower as investors took profits with indexes near record levels. Reuters Business reported that Fed Chair Jerome Powell flagged potentially stretched stock prices and that investors are awaiting an inflation reading later this week. According to the International Monetary Fund, correlations between BTC and U.S. equities rose notably after 2020, indicating that equity risk sentiment can transmit to crypto markets. Based on those linkages, traders monitor BTC and ETH around key U.S. inflation releases and Fed guidance for volatility cues, according to the IMF’s correlation analysis and Reuters Business’ market recap.