I would be wary of saying the worst is behind us. Financial markets see banks going to the Fed for a liquidity as a sign of weakness hence the continuing fall in the shares of regional banks such as First Republic. A growing number of economists sees the recent actions of the Fed as not just papering over the cracks but actually making matters worse. The Fed has pressured JP Morgan and other too big to fail banks to deposit $30 billion to First Republic and guess what its stock is tanking again today.
Billionaire hedge fund manager Bill Ackman said yesterday:
“The result is that FRB default risk is now being spread to our largest banks. Spreading the risk of financial contagion to achieve a false sense of confidence in FRB is bad policy. The SIBs would never have made this low return investment in deposits unless they were pressured to do so and without assurances that FRB deposits would be backstopped if it failed.”

“The press release announcing the $30B of deposits raised more questions than it answers. Lack of transparency causes market participants to assume the worst. I have said before that hours matter. We have allowed days to go by. Half measures don’t work when there is a crisis of confidence.,”

Marketwatch commented has commented that Ackman, 'said the banking sector needed a temporary deposit guarantee immediately until an expanded government insurance scheme is widely available.'
In a tweet on Thursday Ackmann said:
“We need to stop this now. We are beyond the point where the private sector can solve the problem and are in the hands of our government and regulators. Tick-tock.”

Don't forget this is banking crisis is also causing havoc in European financial markets. The bail out of Credit Suisse is seen by many as a sign of weakness which won't solve its longer term problems.

We are quite clearly heading for a global recession and it remains to be seen how crypto will weather that.