Crypto is still a new and high-risk asset, and is considered a risk-on asset by all of the broader financial markets. When Fed interest rates are low and credi

Crypto is still a new and high-risk asset, and is considered a risk-on asset by all of the broader financial markets. When Fed interest rates are low and credit is cheap, money supply increases and more of it flows into higher risk/return assets like crypto and drives their prices up. When Fed interest rates go up and credit becomes more expensive, money supply decreases and funds flow out of high risk assets like crypto, driving their price down. The current bear market will last as long as the Fed continues raising interest rates, then turn back into a bull market when that reverses. Unless there's a war going on, in which case all bets are off.