S&P 500 Hits 6,900 on Weak Breadth — But Is Crypto the Real Liquidity Play?

The S&P 500 climbed above 6,900 for the first time on October 28, 2025, but nearly 80% of its stocks fell that day. This made it the weakest market breadth ever recorded for a positive session.

This anomaly illustrates the rally’s extreme concentration and raises concerns about market fragility, even as prediction markets show optimism for further gains.

As of this writing, the S&P 500 (SPX) traded at 6,890, a modest correction after topping out at 6,911 on Tuesday.

Market analysts are calling it one of the strangest rallies in modern history. According to Barchart, almost 80% of S&P 500 stocks declined, marking the worst day of market breadth ever recorded. Meanwhile, the SPX was making new all-time highs.

Almost 80% of S&P 500 stocks declined today, which is the worst day of market breadth ever recorded, while the $SPX was making new all-time highs