Is there any proof that money was flowing out of stocks and into Bitcoin? And if the US government was actually afraid of this scenario, there's a simple solution - ban Bitcoin exchanges. No need to come up with conspiracies.
I would be curious to know how much $$ it took to pump gamestop stock.
The number would probably be outside the budget of retail investors.
Most likely scenario is the federal reserve or another major power behind it. They're the only ones with that kind of money.
Of course institutional traders are participating in this happening, they understand what a short squeeze is. But there's no reason to think that the Fed is behind it.