The price of cryptocurrency depends a lot from the economic situation in the world.
When all markets falls many people stop investing at all and sell all their assets in panic.
You have to study the influence of the crypto market only from supply and demand, so whatever happens in the economy doesn't mean it will affect crypto, just look at the time when covid-19 didn't have a significant impact on crypto even though at that time gold and stock prices had fallen, but crypto survive in all circumstances of the country economy.