Lol? What's the reason for them to convert their alts to btc and then dump their btc? When market crash happened, they were dump their bitcoin, which make btc price down and it make other alt also dump too as all alts are following btc price. So if btc got dump, alt got dump as well, but if alt got dump, btc could be affected too or not.
The same reason we've seen in all the past cycles. Greed and an expectation to make the same easy money over and over again, what else:)
No need to hodl Bitcoin they said. Change it to memecoins and enjoy 100x explosion they said. Bitcoin is dead and dominance is going down they said.
We've all heard it before and we'll all hear it again.