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.
The current trend has nothing to do with Elon. Its been happening for years already so people who used to seeing the roller coaster ride of Bitcoin is not really surprise on why the price is declining. Elon influence the newbies only in crypto who believe on his words, but he is not the reason why the price is moving downward/upward. Though his past action might have an impact, but it doesnt mean he is the one who can drive the price of crypto to become bullish again.