If the 1% (that pumped Bitcoin)were to dump their BTC holdings, because of for instance a stock or a bondmarket crash, triggered by for instance higher interest rates. If so, you would see a BTC (and altcoin) crash like not seen in many years...
Regular blue collar Joe hasn't got the kind of financial funds to replace what the 1% could pull out. Only the 1% has 1% money, and if they say i'm out of BTC, the price of BTC will adjust to what regular Joe can afford, and that wont be much in a market crisis.
Something like this is already happening as the interest rates for fixed income investments in USA are being raised by the central bank, so we see small crashes in bitcoin price, but at same time, as we can see, the price never falls too deep, because the average investors or even the biggest ones buyback right after.
This gives us a good hint on how strong and relevant bitcoin is for crypto market's members in general.
And even though the price heavily crashed, it would be the perfect opportunity for many buyers to boost their holdings for cheap price, consequently leading the price up again immediately.