Did gold and crypto assets also fall due to stocks?

Large investors and the like raised funds in yen with low interest rates using US stocks as collateral and repeatedly bought US stocks. As a result, the depreciation of the yen progressed, but US stocks fell due to the Bank of Japan's interest rate hike announcement and concerns about the US recession. Since the yen surged due to the Bank of Japan's interest rate hike announcement, large investors and the like avoided unrealized loss risks and resolved their positions all at once. Dollars were sold, yen was bought, and stock prices crashed. There was a further crash due to panic selling, etc. why? It is presumed that investors who lost money due to a decline in gold or crypto assets have relinquished their gold and crypto assets to fill in the blanks.