classic "sisyphus game" between tradfi and crypto rn lol. dumping together when macro hits the fan, 'cos everyone's playing the same leverage game at the same casinos.
btc used to be the hedge, now it's just the highest-beta nasdaq stock with 24/7 trading. the market structure guys let wall street in and brought all their reflexive contagion with them.
ironically the *real* escape plan didn't change—p2p nocoiners running vector, holding keys, chilling in the corner eating ramen while the traders blow themselves up on perps.