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RE: Total Crypto Market Cap vs S&P 500's Biggest Companies
Not only what you said above about money not flowing into other asset classes because it was going into crypto, but while cryptocurrencies have been rallying over the past weeks, money has been coming out of the technology sector, one of the best performing and most speculative sectors of the market. It might be a coincidence, but it could also be tech investors taking some profits and moving into crypto.
Good point, I wouldn't doubt that tech people are moving into crypto but this could also benefit the tech sector of the stock market as more and more bitcoin-related companies become publicly traded, along with bitcoin ETFs that are being attempted by various institutions/investors. The NASDAQ especially should benefit from bitcoin-related startups.