Just look at the ETH difficulty, its dropping but not massively.

I am assuming many with power > 0.10kwh are shutting down their rigs, and those that are mining are doing it out of speculation because they think ETH will hit $1000 again and BTC might go back to $20K.

Crypto won't stop because many have either free or very cheap electricity and those miners will still be mining. Basically go look at the difficulty charts of 2014-2015 when the BTC Price took a massive hit and the difficulty exploded upwards.