60% of S&P 500 stocks now down 20%+ as stealth bear market deepens

More than 60% of S&P 500 constituents are now down 20% or more from their highs, even as the headline index holds up. That gap between the index and the median stock signals unusually narrow market leadership and broad weakness underneath. For crypto traders, a deteriorating equity breadth backdrop tends to weigh on risk appetite and can pressure high-beta assets like BTC and ETH.