The crypto market isn't essentially or intrinsically affected by the situations of other financial markets.
Not every time because at some point cryptocurrency market is also affected by the situation of other financial markets.
Just when we thought things are starting to quiet down and getting ready to swing back, the Federal Reserve announces that they will raise interest rates and tighten their monetary policy to combat inflation, landing another strong blow on the already beaten financial market. And we're likely to see more interest rate increases in the future until they bring inflation under control. One expert says that if economies don't hold up amid these hikes, Bitcoin's price might plunge further to about 70% of its current price, which is around $8000.
First, I hope you don't misunderstand that the decision of the Federal Reserve announcement to shrink its asset portfolio as the reason behind the current downtrend of the crypto market because the decision will only increase borrowing costs and literally more money will be printed but in the real life this is not a solution because they are making the same mistake all over again.
Having said that, the current downtrend of the crypto market is a normal market correction that always happens after the ATH price market, and if it happens that BTC fall to $8000 what will happen is that all experienced investors will accumulate more of it because it will always make a new ATH price after halving.