Cryptocurrency Markets Experience Significant Outflows Despite S&P 500 Rally

The recent performance of the S&P 500 has historically been followed by an increase in risk assets, including cryptocurrencies. However, this trend is not being reflected in the current cryptocurrency market.

Bitcoin and Ethereum spot ETFs are experiencing significant outflows, with Ethereum's 11-day streak exceeding Bitcoin's own consecutive outflow run. This reversal of fortunes raises questions about the relationship between traditional finance and digital assets.