Yes, it is confirmed that the 100 top cryptocurrencies (that are not “stable coins” fixed to an external asset) have dropped dramatically. Over a trillion dollars of wealth has disappeared.
And as always many are predicting worse and worse. Others are buying more and predicting a rebound.
Maybe you are starting now to realize that these crypto currencies are actually an unsupported but legal Ponzi scheme. But on the other hand people do make money in Ponzi schemes for a long time before they collapse. I guess we will see.