This. Let's not pretend that 'traditional' investors haven't become hooked on expansionary monetary policy too. Pretty much every relevant market segment, from

This. Let's not pretend that 'traditional' investors haven't become hooked on expansionary monetary policy too. Pretty much every relevant market segment, from stocks to bonds to real estate, has been overvalued by every traditional metric and still rising for a decade now. With central banks ending the printing bonanza, the time of reckoning has come. The reckoning will be harder in crypto because on top of loose monetary policy, prices have been propped up by money-printing scams like Tether. If crypto wants to prove it has value as a technology and not just a get-rich-quick scheme, it needs to rid itself of the Terras, Tethers and other such actors.