There is anxiety among traders about how aggressive the Federal Reserve will be in tightening the monetary policy has caused upheavals in the risk assets, causing Bitcoin to tumble below $33,000 in the previous month. There has been a sideway trade of the coin since, and trading volumes have been shriveling up as well.
https://businessupside.com/2022/02/25/value-of-stablecoin-soars-as-everything-else-in-crypto-shrinks/