I have no holdings whatsoever, so it should not be for someone like me to have to spell out what is happening for you larger investors, but I love you really, so here goes:
Say most crypto lately, is held by a large population of people.
Most of those people live paycheck to paycheck, maybe managing to salt a few months of wages into savings or investments “For rainy day”.
They prefer crypto or gold, as it seems to be appreciate better than money in the bank.
The rainy day appears to be now.
Their main worry is to keep paying rent or mortgage and put food on the table in the next few months.
For that, they need cash, as neither gold nor Bitcoin can be spent in the street.
So they’ve sold their holdings in gold and bitcoin, for cash.
The Bitcoin and gold prices went down, relative to cash.
But now, massive amounts of cash are also being printed, from thin air, to be given out free to all people.
So its value is about to tank.
As the value of cash drops, more and more street traders and their suppliers will choose to start accepting Bitcoin, which they can administrate with only a smartphone.
Not gold, which is heavy, easily forged, easily stolen.
When the bulk of street trading switches to Bitcoin, cash will become worthless.
Then you Bitcoin Hodlers will be sitting on something priceless, except maybe in terms of gold.
The cash price will no longer have any meaning.