As far as I know, our country is neutral towards Cryptocurrencies. The government does not prohibit its people from doing all Cryptocurrency activities such as trading, investing, mining and others. But here the State has not legalized Cryptocurrency as a legal tender, so if we want to shop then we have to exchange it for Fiat first.  But that's not a problem for us, we love to get to know Crypto earlier than most people here.

I think the stock market shows the health of the economy. At the beginning when the stock market went down, money was pumped into crypto and caused the crypto market capitalization to increase. However, if the economic downturn continues, investors are forced to withdraw money from crypto to use, investor sentiment will also be affected and cause the crypto market to decline.