Yes and the current market value of bitcoin is 432$ you wont imagine that a crypto currency would have a value like this.
Many people are trusting in bitcoin thats why its value in price matters.
I think its a full on mixture of things, while 1 side is trusting bitcoin in their cold wallets.
The rest is being sold etc, or just because it has a price its proved enough to obtain in general.
Price of bitcoin will always matter to all of us who have invested their money into bitcoin, and if bitcoin don't hold any value then no one would be interested in using it or holding it.