Let's examine the logic of those who bought BTC at $15k+ during the 2023 market downturn:
2023 Dumping Time: 15k+×4=60k+ When 60k+, they thought the target was 1BTC, so they bought 4BTC with 60k. They exceeded the target.
2024 Pumping Good Time: 4×60k=240k Where do you see their current position?
What I mean by the above logic is that they have reached their BTC goal and have no more drawbacks. They can sell now if they want, and there will be no downside or loss because the price of Bitcoin is high now. A portion of their Bitcoin indeed serves as their emergency fund.
You should at least get your timeline correct.
2023 was not a dump year
2024 has largely been a consolidation year, even though we have had some ATH peaks and going up in early March (at least the peak was in March, but the going up had taken place all through 2023 and into early 2024).
Surely it is problematic for any portion of bitcoin to serve as an emergency fund, except maybe if you have reached a status of achieving your BTC accumulation goals or exceeding your BTC accumulation goals.