If you take a look at crypto market you can see that it is not so low now if compared with the dollar index and so on. If we imagine that in January the dollar index would sharply strengthen to this level, bitcoin would be at the level of ~$25,000. But now, when the dollar index is on the top, nasdaq is in the red, the level of ~38000 for bitcoin is a very good indicator. This is not even the level of the January when economic conditions were much more favourable for the crypto market and Bitcoin was at the level of ~$32000. Now things are much worse economically and geopolitically, but we are at the level of ~$40,000. Current dollar index shows that the crypto market can grow even in such difficult economic conditions. So if there's an economic collapse it may affect positively to the btc price.
[Image Source](Coingeckgo App)
