and would subsequently lead to sell off of BTC dragging price down below the current interest of the fresh blood...
That is nonsense. Why would any bitcoin hodler sell their bitcoins if ETHf goes down?
So the last ICO got 150millions of fund in ETH. How does this ICO work? I fought people give ETH for some token, and the start up owner has ETH. So if you have 150 million of $ in ETH, why would you not sell it immediately?
And the place of BTC here is... what?