You’re right, in that situation some of the fluff will come off the top of BTC short term.
Gold won’t fare much better though- look at its performance during previous crashes (…08, 20). It goes down in sharp drawdowns too.
The only thing that wins short term in a liquidity crunch is the dollar.
But once they fire up the printers, you know where you wanna be. Especially after today’s news I’d prefer BTC.