Few days ago I created a thread pointing almost same thing but bitcoin specifically, the theory is becoming so realistic that the new government is only going to manipulate the crypto market to put money into their pockets just as you have pointed out with your theory.

Perhaps it's very unfortunate that some folks in here might want to be defending some bullshit which is pretty obvious but for some pro crypto US government they would rather not realise the reality of market.

Including Elon in the frame makes it even more and more problematic to me as he used bitcoin and left for some reason which e claims energy consumption. I hope we don't regret this and the biggest fear of the coiners (manipulation) become so realistic.