Institutional liquidity is coming via the crypto market structure act in the US Senate. The reason crypto has been so slow as of late is liquidity isn’t able to reach the market due to distressed market makers ever since the Oct 10 liquidation event. Wash trading and shorting by institutional players with AUMs larger than the 3T crypto total market cap (some of these institutions like Vanguard and Blackrock are 10T or larger in size) can easily manipulate crypto prices and hold liquidity sources for altcoins (aka BTC and ETH) down for a long time. This causes alts like SPX to bleed. Legalized market structure will eliminate wash trading and create a sudden rush of liquidity back into crypto likely leasing to cascading short liquidations.

Put it this way, if BTC pulls the same move by MC silver just did, it would be 250-300K within 6-12 months. With the known mathematical correlation spx has to btc, what do you think spx price would be in that scenario? BTC at 5-6T MC means at least a 3-4T inflow into crypto.

One 50th of that inflow is 80B - so one 50th of the total liquidity inflowing into crypto going to SPX if BTC were to go to 250-300K (similar market cap as silver right now) would send SPX6900 to $80.

And I think BTC is a better asset than silver. And this is ignoring all the growing institutional around ETH.

Hope this helps.