In my opinion the involvement of major institutions and mainstream finance platforms/institutions, large groups that have a lot of leverage (relatively) in the crypto market, are going to swing the crypto market along with things like indexes and stocks. Similar to how we saw the "rather boomer move" of "buy the rumor sell the news" with the eth merge, it being priced in more as a date was becoming clear, and then a dump/selloff. Most of the impact we've seen recently has been downward psychological momentum on the market piling on from central bank rate hikes. it doesn't have to make sense.
arguments are made like "well logically crypto shouldn't be coupled with federal interest rate hikes", but it's not logical. the market always leads with emotion, which is really where i think the ONLY vector of TA having any real sense of "working" exists -- that TA patterns can influence a self fulfilling prophecy. Sometimes yeah it's fundamentals. Most of the time it's market emotion.
And right now global/universal market emotion is bad, and there's no wall between that and crypto.
