We are back to the 90s, the Fed raised the rates by 0.50% - nothing is going to stop the trend of further rate hikes - which in turn will keep on taking the air out of the balloon so called Crypto.
We don't need Elon. I mean, there has always been rate hikes and volatility but that has not stopped BTC ever since it's inception. Doge was not really there for anything other than to be boosted and made popular by him.
I strongly believe this is just a phase for the BTC and it will rise again.