Actually, the term "Cash is King" is using whenever the market is crashing or collapsing. It only means that it is better to liquidate your assets and turn it to cash because it's value will stay if the assets are crashing. Like what happened last year when the FTX scandal happened. I sold all of my positions because "Cash is King" and I avoided the market collapse wherein it saves me a lot of money and profit. When the scandal subsides, I reinvest again in different assets. Of course, my largest portion is still in cryptocurrency market, and it made me a lot of profit in rally in these past days.