The S&P 500 just wrapped up another banner year, marking three consecutive years of outperformance that's got Wall Street buzzing. But here's the thing—as we head into 2026, traders are asking some serious questions about whether this streak can hold.

Three big uncertainties are shaping the conversation right now. First, there's the valuation question. Can equities stay elevated given current price levels? Second, there's the macro backdrop. How will interest rates, inflation, and Fed policy actually play out? Third, the correlation angle. How do traditional equities move relative to alternative assets?

For crypto investors especially, this matters. When TradFi keeps printing gains, capital flows shift. When sentiment turns choppy in legacy markets, it often spills over into crypto trading patterns. So whether the S&P 500 sustains its momentum or hits a speed bump could send ripples through the entire digital asset ecosystem.