A market crash is a destruction of wealth. In those times, most assets, especially volatile ones, will see a net outflow.
I keep hearing that term "destruction of wealth" like it's a real thing. It's more like a realization of actual wealth.
The actual amount of wealth is the amount that the market says it is. If the market is willing to pay $2.5 for a widget then the widget is worth $2.5 no matter what anyone else says it is worth