No sensible investor will sell his Bitcoin to get hold of Ethereum. Yes, the money will come in ETH as its ETF is also approved but that will be new money flowing the Ethereum. Bitcoin investors will never be willing to sell their Bitcoin only to invest in Ethereum.

Secondly, I understand the fear in the market, as the price is constantly dumping. MTgox threat and all these negative sentiments are making the newbies think that Bitcoin's future is in doubt. These weak hands will sell their bitcoins and only the diamond hands will make big profits in the coming bull run.