Long term it will not affect bitcoin. Today it is affecting bitcoin.
I treat crypto as a new asset class and assigned it a target percentage of net worth. In the two years i have watched bitcoin, I generally thought it was not very synchronized with the equity market and therefore worthy of an allocation. The market doesn't always make sense on a daily basis. For instance the supposed reason for the wall street scare was the surge of good earnings and a good wages report on Friday making everyone scared that the Fed will see inflation and rapidly raise rates. If that makes sense then it doesn't make sense that commodities went down in general. I would have said that people are in general not very worried but just hanging onto cash and waiting for bargains, be they stocks or bitcoin.