I think people are actually selling more than buying at this time of year, at least those who celebrate Christmas and New Year. Most will actually spend some BTC (by selling for fiat/or directly) to buy gifts, food and drink, decorations and all that is being bought this time of year.
People actually buy BTC long before so they can sell it and make a profit in this period, and this was a good strategy this year as well, at least for those who bought in the first few months of this year, they doubled their money.
It is really a good thing to admire that instead of converting bitcoins back to fiats, they are buying items and what you've just mentioned directly through bitcoin. In that regards, we can still make sure there is allot of market capitalization that we have, and the market price of bitcoin will remain high. But if not, let's follow what investors are doing, which is taking advantage of the declining market to accumulate BTC, and other altcoins to add it to their portfolio.