Cryptocurrencies are down 1.40% in the last 24 hours, and the Standard and Poor's 500 index is down 1.16% in the last 24 hours... will cryptocurrencies follow stocks into the 2024 recession?

I always wondered if the money pools are one in the same as it pertains to stocks and cryptocurrencies, especially now more than ever, since a lot of the overall market swings seem to mirror one another in some instances not all?

I personally believe that Jerome Powell is not done raising interest rates, and will not rest until he successfully breaks the stock market and low unemployment. He wants inflation at 2% and will not stop until he reaches that goal.

With all that being said, stocks and cryptocurrencies will both feel the heat, and companies attached to them will start if not already be running out of money and will need to borrow more, and when they do it will be at current interest rates, which means no more cheap borrowing, which will weaken company profits, their will to hire, and their will to innovate... all bad things for the value of stocks and cryptocurrencies going forward.

What say you: are we in for more bearish sentiment, or am I missing something here?