The performance of stocks and bonds can influence the cryptocurrency market. In times of stock market bull runs, investors may be more risk - tolerant, and some may allocate a portion of their portfolio to cryptocurrencies, driving up prices. Conversely, during stock market crashes, investors may sell off their cryptocurrency holdings to cover losses or seek safety in more stable assets. Bonds also play a role. If bond yields rise significantly, they may become more attractive relative to cryptocurrencies, causing a shift in investment flows. Additionally, the correlation between traditional financial assets and cryptocurrencies may change over time, depending on market sentiment and macro - economic conditions.