but if this is indeed reality then sure most of those who will get the funds may cash into fiat as they have been waiting for long time.
Its been a long time coming, it was well signaled which means people knew they were getting the funds and likely spent ahead of that. With price being high, supply of BTC coming in I see them selling to pay bills built up. Thats all fine, just a transfer of BTC but if supply exceeds demand in those moments we likely pullback some. 2022 can be fine but I think we have to accumulate the higher targets people have and I dont believe in easy gains for now at least.