If we look at the graph below,we can clearly see that the amount of ETH deposited to Sushiswap on this bear market has never been decreasing even on 13th June 2022 until 18th June 2022 as this is the time where BTC drop from 25k range to 17k range and this create a huge fud on the market volatility. Despite we have the bear market, the ETH deposited on this period to Sushiswap exceeded 10k.

For the Sushiswap lending activity for Eth, there is trend that people tend to withdraw out their ETH holding rather than deposit the holding to the lending pool. This would show us the insight that the withdraw from lending is higher then the deposit.

If we compare the graph with BTC. There is a clear trend that the BTC withdraw from Sushiswap has been increasing even before the crash to 17k range on 18th June 2022. This tell us that BTC has been entering the bear trend since May 2022 and the BTC withdraw exceeded the BTC deposited.