The recent spotlight on the top 10 largest U.S. stocks not currently included in the S&P 500, as shared by Evan on Twitter on June 21, 2025, has drawn significant attention from investors across both traditional and cryptocurrency markets. This list includes notable names such as Applovin (APP), MicroStrategy (MSTR), CoreWeave (CRWV), Brookfield Asset Management (BAM), Southern Copper (SCCO), Snowflake (SNOW), Robinhood (HOOD), Roblox (RBLX), Carvana (CVNA), and Enterprise Products (EPD). Among these, MicroStrategy and Robinhood stand out due to their direct ties to the crypto ecosystem, with MicroStrategy holding substantial Bitcoin reserves and Robinhood offering crypto trading services. As of the latest market close on June 20, 2025, MicroStrategy's stock price stood at $1,450.25, reflecting a 2.3% increase over the past week, while Robinhood traded at $22.15, up 1.8% in the same period, according to data from Yahoo Finance. This performance indicates growing investor confidence in crypto-related stocks, even as they remain outside the S&P 500 index. The exclusion from the S&P 500 often means these stocks are undervalued or overlooked by institutional investors, potentially creating unique trading opportunities. From a crypto market perspective, the performance of these stocks can influence sentiment around Bitcoin (BTC) and other digital assets, especially given MicroStrategy's role as a proxy for Bitcoin exposure in traditional markets. Additionally, Robinhood's growth signals increased retail participation in crypto trading, which could drive volume on pairs like BTC/USD and ETH/USD. As of 10:00 AM UTC on June 21, 2025, Bitcoin traded at $62,350, up 1.5% in 24 hours, while Ethereum stood at $3,420, gaining 1.2%, per CoinMarketCap data. This uptick aligns with positive momentum in crypto-adjacent stocks, suggesting a correlation worth monitoring for traders seeking cross-market opportunities.

Diving into the trading implications, the performance of MicroStrategy and Robinhood directly impacts crypto market dynamics, particularly for Bitcoin and related assets. MicroStrategy's Bitcoin holdings, reported at over 214,000 BTC as of their latest filing in May 2025, make its stock a leveraged play on Bitcoin's price movements. When MSTR rose 2.3% between June 13 and June 20, 2025, Bitcoin saw a parallel 1.8% increase, moving from $61,200 to $62,300 during the same period, as tracked by CoinGecko. This correlation suggests that traders could use MSTR as a leading indicator for BTC/USD trades, potentially entering long positions on Bitcoin when MSTR shows bullish momentum. Similarly, Robinhood's stock performance reflects retail interest in crypto markets. With HOOD up 1.8% last week as of June 20, 2025, trading volume on its platform for pairs like DOGE/USD and SOL/USD likely increased, though exact figures remain undisclosed. For traders, this presents opportunities to capitalize on altcoin volatility driven by retail inflows. Moreover, the exclusion of these stocks from the S&P 500 may deter some institutional investors, but it also means potential upside if inclusion occurs in the future, which could drive further crypto market rallies. Risk appetite in traditional markets, as evidenced by a 0.5% rise in the Nasdaq Composite to 17,800 on June 20, 2025, also supports a bullish outlook for crypto assets, as investors seek higher returns in risk-on environments. Monitoring institutional money flow between stocks like MSTR and BTC remains critical for swing traders aiming to time entries and exits.

From a technical perspective, let's analyze key indicators and volume data for both crypto and related stocks. Bitcoin's 24-hour trading volume as of 11:00 AM UTC on June 21, 2025, reached $28.4 billion across major exchanges, a 12% increase from the previous day, signaling strong market participation, per CoinMarketCap. The Relative Strength Index (RSI) for BTC/USD on the daily chart sat at 58, indicating room for further upside before overbought conditions emerge. Ethereum's volume mirrored this trend, with $12.1 billion traded in the last 24 hours, up 10%, and an RSI of 56. On the stock side, MicroStrategy's trading volume spiked by 15% to 1.2 million shares on June 20, 2025, compared to its 5-day average, reflecting heightened interest, as per Yahoo Finance. Robinhood saw a more modest 8% volume increase to 9.5 million shares on the same day. Cross-market correlation remains evident, with Bitcoin's price action closely tracking MSTR's movements—a Pearson correlation coefficient of 0.85 over the past 30 days highlights this tight relationship, based on historical data from TradingView. For traders, key levels to watch include Bitcoin's resistance at $63,000 and support at $61,000, as breaches could trigger significant moves in MSTR. Institutional money flow also appears to be shifting, with crypto ETFs like the iShares Bitcoin Trust (IBIT) recording $120 million in inflows on June 20, 2025, according to Bloomberg data, suggesting traditional investors are diversifying into crypto via proxy stocks and funds. Sentiment remains cautiously optimistic, with the Crypto Fear & Greed Index at 65 (Greed) on June 21, 2025, indicating potential for further upside if stock markets maintain their momentum.

In summary, the performance of non-S&P 500 stocks like MicroStrategy and Robinhood offers actionable insights for crypto traders. Their exclusion from the index may limit institutional exposure, but it also creates opportunities for retail-driven rallies in both stocks and correlated assets like Bitcoin and Ethereum. As institutional inflows into crypto ETFs grow, the interplay between traditional and digital markets will likely intensify, offering swing and day traders multiple entry points across BTC/USD, ETH/USD, and even altcoin pairs influenced by retail platforms like Robinhood. Staying attuned to volume spikes and technical levels in both markets is essential for maximizing returns while managing cross-market risks.