Bitcoin Breakout or Breakdown?

$Bitcoin(BTC.CC)$ prices were hammered and cryptocurrencies broadly have taken a massive dive this year. $Ethereum(ETH.CC)$
Specifically, Bitcoin saw a peak-to-trough decline of nearly 75% and is down 47% so far in 2022.
The moves clearly answered the question of whether bitcoin, ethereum and others would act as a hedge against inflation.
While they did initially jump and rally in 2020 and 2021, investors must question whether this was due to the rally in risk-on assets (like high-growth stocks) or because of inflation.
Given the way bitcoin and other cryptocurrencies have traded lower so far this year, they seem to have a much stronger correlation with growth stocks than they do with inflation, which has been raging higher.
Now, though, bitcoin prices have been on the mend a bit since they bottomed in June. That's even as $Tesla(TSLA.US)$ and others have sold.
Specifically, bitcoin has risen in four of the past six weeks, while the two down weeks were losses of just 0.26% and 0.58%, respectively.
Can the bulls keep driving bitcoin higher? $Coinbase(COIN.US)$ $Robinhood(HOOD.US)$ $Nasdaq Composite Index(.IXIC.US)$