What's happening here isn't causing the recession, it's indicating it, for the most part. Crypto was never really disconnected from the public markets, not like it claimed it was.
Maybe the nuevo crypto gang, but OG Bitcoiners have seen enough bubbles they view them as inevitable and don’t particularly care about the reason for them.
Seen enough bubbles? They’ve only known one type of monetary policy and rate environment (essentially zero). This is uncharted territory for all crypto.
Every time I make a comment about this I get downvoted by the crypto gang.