I think it’s the opposite. Bitcoin dropped because the stock market dropped last week due to the higher than expected CPI and PPI prints. Means that inflation is still here and traders are pricing in higher yields which was showed after the bond sell off.
A proof that cryptomarket is also affected when the economy or stock market dropped, we are in the same cycle.
Well, considering that Bitcoin is already over bought and maybe this is just a normal correction with Bitcoin and no connection at all.
If they will increase the rate again, I'm sure many will be affected and yeah the problem with inflation and crisis is still here, there's another threat from Russia for a WWIII and that's more alarming.