So Huobi has activated ETH withdrawals, but so far they are refusing to allow the BTC withdrawals. How this is going to be good news for the Bitcoin? My guess is that more Chinese users will convert their Bitcoins to Ethereum, creating a crash in the BTC exchange rates.
I reckon those holders see the same things happening as we do.
A bull run going for an ATH almost every week. So no I don't thing the majority will sell their coins, but rather invest more and try to profit from this bull market.