According to Eric Balchunas, U.S. stock futures are showing significant gains, with the S&P 500 (SPX) approaching a year-to-date break-even point as of May 11, 2025. This positive momentum is attributed to optimism surrounding potential new trade deals. For crypto traders, a strong SPX often signals increased risk appetite across global markets, potentially leading to more capital inflows into major cryptocurrencies like Bitcoin and Ethereum. This correlation means that a sustained SPX rally could buoy crypto prices in the short term, as institutional investors may allocate more funds to digital assets when equities are stable or rising (source: Eric Balchunas on Twitter, May 11, 2025).