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The U.S. stock market just triggered a massive short squeeze—and crypto followed. Cooling jobless claims and PPI strengthened rate-cut hopes, sending Treasury yields lower and forcing heavily shorted tech and storage names into aggressive covering. The move then spilled into crypto: $BTC and $ETH found support, with ETH showing stronger resilience from ETF flows. Stock-linked tokens like $xSNDK and $xSPCX moved sharply higher, while small-cap memes mostly saw short-lived speculative pumps.