We're still not into an actual recession as well either, and BTC has never been tested by a properly bad recession (2020 doesn't really count due to how sharp t

We're still not into an actual recession as well either, and BTC has never been tested by a properly bad recession (2020 doesn't really count due to how sharp the recovery was). It is this bad for crypto right now, and there's going to be no cheap cash coming to rescue it for quite some time. I think it is still possible that there might be a floor down at $4k or so where all the True Believer billionaires may still step in to buy it up and rescue it. If the billionaires themselves are net sellers though needing to raise cash because everything else is in flames (e.g. Elon+Twitter) then it may just fail.