It's hard to tell if the economic depression will affect Bitcoin price since there are a lot of things that determine the BTC market's new trend we already know bad news is one but judging by the previous occasion that happened during the total lockdown we see that investors often seek alternative assets as a store of value or a hedge against economic depression and most of them find there alternative in BTC. Therefore, there's a huge possibility that economic depression may not affect BTC.
If recession, the economic crisis does not affect bitcoin. Can you explain to me what happened in 2022 and this year? When inflation is high, all industries are affected, and bitcoin is also severely dumped in 2022. Not to mention, every time the Fed announces a rate hike, bitcoin continues to be dumped, or negative news about war also causes the market to panic...All this is not telling you that if the economy is unhealthy, every asset and industry will suffer, and bitcoin is no exception.
Remember I said a lot of things impact the price of the Bitcoin market and cause the dump in the price of last year was many but the most crucial part is the normal market correction that always occurs before the block halving market effect and the FTX collapse.
This year dum was influenced by Bitcoin Ordinals/BRC-20 and the US SEC lawsuit on top exchange but bullish trend happened when giant investment companies show their interest in BTC publicly.