No. Because masternodes are no different from any other part of the supply. They might hold under one set of circumstances and sell under another. Dash supply is not "locked up in masternodes", it never was because no-one in their right mind would hold onto such a huge capital loss in a bear market, while in a bull market the principal attraction is capital gain, not fixed income so entire nodes will get dumped at the top of a rally. The only people that hold through both are Dash tribalists who do not represent the wider economic landscape.