Real estate and cryptocurrency can be a powerful hedge against inflation. Since real estate is a physical asset it requires a large amount of capital investment and can be affected by market fluctuations especially in terms of loans and credit.
Most people can't afford real estate, and that's why they take a mortgage on it. So, loans and credits are pretty normal for it when one wants to take them. And it's easy to say to leverage the first one that they've acquired after paying in full and it seems that there's an infinite loop on it but it's always been a credit leverage that whoever does it will always be pressured by the market.
Cryptocurrencies are not controlled by any central bank or government so they are immune to the volatility of fiat currencies. When governments print money to supply additional currency during times of inflation the value of cryptocurrencies is protected from that volatility.
There is no indirect effect of crypto on fiat because fiat itself is stable, but solely affected by inflation. So, crypto getting a direct hit from the government is through their influence, and that's how they move the market. They make reports that can be negative to crypto and we see this from time to time, they can manipulate it into their favor.