Question about Cryptography in Bitcoin

Hi, I'm currently learning all about the functionality of Bitcoin for a school paper and I've not understood the following concept for some time now.

So I know how cryptographic concepts such as hashing and digital signatures work in Bitcoin.

However I'm not quite grasping how asymmetric encryption fits into the Bitcoin network. It is said it's used in transactions and other areas but don't really see where.

I thought transactions are encrypted with the private key of the sender and the verified with the public key of the sender (digital signature) and not encrypted with the recipients public key and decrypted with the recipients private key (asymmetric encryption). I thought encryption is not used at all in bitcoin as it is said in multiple sources.

Any help would be greatly appreciated!!