According to Eric Balchunas, despite Donald Trump’s announcement to slash prescription drug costs, the biotech sector ETF ($IBB) rose by 3.3% today, while the pharma ETF ($IHE) also gained, though less significantly. This market reaction suggests traders are either discounting the immediate impact of policy proposals or anticipating limited near-term regulatory threats to sector profitability. For cryptocurrency investors, such resilience in traditional healthcare equities may signal continued capital allocation to risk assets, potentially limiting short-term inflows into crypto markets as traders seek sector rotation opportunities. (Source: Eric Balchunas on Twitter, May 12, 2025)