BTC got a hit and pulled down many other tokens with it

As confidence in fiat degrades, we'll see more and more investors in crypto, especially BTC. On the flip side, as costs in fiat increases the people might cash out their crypto just to cover the gap their living expenses.

Which will it be? The wealthy upper class who are sheltering their wealth, will buy, the poorer lower class who will do whatever they can to survive, will sell. Buying or selling?