It seems to me that institutional investors who are invested in both stocks and crypto will move some crypto out (sell) to help offset their losses from stocks. That's what could drive the price down by a bit.
What are your thoughts?
I think no one needs to dread the month of May. Selling right now is only a good idea when you will gain profit out of it, if not just hold and get some fiat ready. In case it dumps, it is a good opportunity to buy up some cryptos. Nevertheless, I think market would not be driven down. Instead, I think that might drive price up considering some stock investors will look for other trades to profit from, and crypto is one option.