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.
It may not always be convenient for an investor to use the emergency fund to buy Bitcoin and then try to make it up again later. When an investor repeatedly uses the money from this fund, he may fail to provide the money from that fund at any time. So, it is better to keep the money from the emergency fund without using it. Yes, in some cases, if there is need. For example, if the price of Bitcoin has suddenly dropped so much, then the emergency fund can be used if there is an opportunity to buy at that time. However, it must be remembered to replenish the money to the emergency fund as soon as possible. If it takes a long time to provide the money from the fund, then it is better not to use that money.
In my opinion, it would not be right to buy Bitcoin from an emergency fund under any circumstances. The issue of using and restoring an emergency fund during a price drop is more dangerous because the level at which you choose to buy Bitcoin for a price drop may decrease further in the future. Such mistakes in the long term Bitcoin journey can often have a negative impact on the investment.
My recomandation would be that if an investor has a floating fund it would be wise for him to plan to use that fund during a price drop.
Strategically if you keep the size of the emergency fund a little bit extra such as more than three months then perhaps you can buy from that extra fund during a price drop.