I think that deflationary means that the supply is meant to decrease and in case of bitcoin, especially in the last 5 years, I expect that the amount of bitcoins lost is tiny.
Well, at least the miners cannot just keep HODLing, they are businesses that have to pay their bills and they can do that only by selling some of the coins they obtain.
(Plus, I think that there's pretty much always a price target for the HODLers, and after that target is met, they'll also sell some.)