Well in Bitcoin investment no money is made permanent for a particular usage, the usage of this funds are not rigid but flexible and adjustable base on situation and or circumstances. There could be times when emergency fund can be used in the place of discretion fund when there is no discretion but that doesn't mean that it will remain permanent but these only happens when there is a financial difficulty or mismanagement of fund or when our source of income are whimpy. But However I don't mean to say yhat it is advisable to misplace the usage of each of this funds but we just need to know that sometimea we just need to be flexible in our investment approach in other not to follow a wrong investment approach expecialy anything that will leed to selling of Bitcoin when our target has not been met.
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In some cases where you have exhausted your discretionary income for bitcoin investment it's not bad if an investor uses little of his emergency fund to purchase bitcoin and still make a replacement back to your emergency fund when things are alright but emergency fund shouldn't serve the purpose of discretionary income using your emergency in a one time purchase of bitcoin doesn't give you a bad method to invest in bitcoin.
I'm afraid that it's a very risky move to take, even when you plan to replenish it later. You'll be automatically endangering your Bitcoin investment because that way, your emergency fund wouldn't be as solid as it's initially meant to be. Let's say for instance, you were able to successfully build 4 months worth of your living expenses and then you end up using 1 or 2 months worth of your living expenses to buy on DIP and an emergency that requires 3 months worth of your expenses occurs, considering the fact that your emergency fund at this point is incapable of sorting this emergency, wouldn't that lead you to dipping into your investment?
It's not mandatory that investors must buy on DIPs, if there's a DIP in the market and there's no discretionary fund or reserve fund at that moment in time, rather than using your emergency fund or putting yourself under pressure simply because you wanna take advantage of the DIP, I believe it's best you forget about it and stick to you usual DCA strategy, there'll be other opportunities to buy on DIPs, that is when you have the resources to buy without having to risk jeopardizing your primary strategy and portfolio.