This kind of news does make you wonder whether the HODLers will keep their coins even if the price soars further. Those who were in early enough may be tempted if the price is so high that they could be rich just by selling or by taking profits. If that starts to occur, there's a risk of a fall in BTC's value when dumping takes place. Another risk is that the new HODLers which make up that percentage are the ultra-rich like Elon Musk, who are capable of manipulating the market just through tweets and announcements.
Certainly, this is just one of some inherent risks with the Bitcoin market and there is nothing we can do it as it can also be true with other speculative assets in the market today. People who are holding a big amount of Bitcoin can be making a big impact on its price especially if they will decide to move their assets and convert into other form like cash or even other cryptos. However, with small holders we are on safer hands as most likely they will not be acting on unison at the same time. And with the bullish state of Bitcoin (of course, despite the 20% average pullback right now) more and more can decide to add to what they are already hiding which can hopefully produce more pressure for Bitcoin to rise up in price.
