Yes, but they didn't listen to their gut or the many warnings. You had people leveraging huge sums of money to buy BTC $70k with price predictions in the $100-$200k range. The warnings were risk assets, bubble, fed shifting policy, etc, etc. Once the fraud started shooting through the roof it was a pretty obvious last sign of mania. That's coming from someone that has crypto but it's about 3% of my investment and I bought it a year ago.
What I also find ironic is everyone is willing to talk about the 70% crypto crash like it's an asset all by itself. You will even find holders of stock preaching about not being able to recognize the bubble in crypto but they were holding Netflix, Meta, Twitter and other tech stocks that lost just as much if not more. I'd love to pat my own back because I called the bubble. Problem is I started calling it in 2019 and even now stock prices are typically higher than they were then so I can't be too proud.
We know most stocks will recover. Nobody knows how crypto will evolve from here. For some reason this time it feels different than the last crashes. The first couple of times it felt like some pump and dump at the end of the road. This time it feels like a ponzi scheme unwinding. I'll buy some more if prices dip considerably lower and I'll triple my investment on the way down because it is worth the gamble if it is just another crash but rest assured, it is gambling.