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Is bitcoin a leading indicator?

BITSTAMP:BTCUSD   비트코인
Cryptos abruptly dropped 10%+ over this weekend's session forming a massive red candle in what could already be a bear market continuation. Short term it is stunning. Even more interesting is the longer term picture. Could cryptos be a leading indicator to what other bears and I have been waving red flags around about the stock market in general? Since 2018, the movement of the two asset classes certainly have some correlation. Albeit not all, but most of the deep market drops since then were led by cryptos. What is even more curious is the two asset classes seem to be synching closer and closer into rhythm since then. In 2018, it took a full month after the crypto market began dropping out for stocks to follow. In Feb 2020, it took only 7 days. Thus, it seems to me like the next 7 days will be critical.
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