According to The Kobeissi Letter, the current proximity of the S&P 500 to its all-time high suggests that markets are not pricing in a significant risk of global conflict. The Kobeissi Letter highlights that if there were even a 50% chance of World War 3, the S&P 500 would be down more than 30%, gold would be trading above $5,000 per ounce, and oil would be priced above $100 per barrel (Source: @KobeissiLetter on Twitter, June 16, 2025). For traders, this analysis indicates that current market sentiment remains risk-on, with traditional safe havens like gold and oil not reflecting crisis levels. Cryptocurrency markets, especially BTC, often mirror risk sentiment in equities. Therefore, the ongoing strength in the S&P 500 may continue to support a bullish environment for major cryptocurrencies, barring any new geopolitical shocks.

According to The Kobeissi Letter, Nasdaq 100 futures fell over 200 points following President Trump's statement that Zelensky is 'gambling with World War 3.' This significant drop highlights market sensitivity to geopolitical comments, which can influence trading strategies and risk assessments.