Did bitcoin lose its value?
I'd say not at all, BTC has not lost its value otherwise it won't be pumping like it is now

In the era of pandemic 2020, Federal Reserve Bank printed paper currency notes which ultimately decreased the value of us dollar USD. And in that period, Bitcoin btc was also stagnant and did not move much. So did bitcoin has losen its value with usd? If yes then similarly other fiat currencies like usdb, usdt etc. also lose their value with devaluation of us dollar.
The reason BTC was stagnant as you describe it, though I'd prefer to say less volatile, is because of buyer's confidence rather than an effect on USD depreciation as a result of printing more money.
And by this alone you can already deduce that BTC hasn't lost its value as unlike the USD fiat which can be described as limitless (i.e. can print as much money as you like) depreciating its buying power, BTC is still more difficult to mine and the total supply is also limited, thus overall making BTC a scarce resource.
And what happens to the value of a scarce asset? Well it grows...