The $SPY is currently following a major trendline that has been respected since 2020. Based on this historical structure, I’m expecting a possible correction of around 12–14%, potentially dropping from current levels near 7400 toward the 6500 area in the coming months. After this correction and some consolidation, the market could continue toward new all-time highs.
Crypto markets usually follow the direction of U.S. stocks, even if there’s sometimes a delay. If the $SPY moves lower, crypto could also face downside pressure. And once U.S. stocks recover, crypto is likely to regain bullish momentum as well.