I don't think so, I think what you're seeing is a combination of other currencies devaluing against the dollar and then a slight bump into Bitcoin because it can be used by some for capital flight, but the majority is just relative fiat devaluation

I think it's the game now, the shittier your local currency the quicker it devalues against the dollar and Bitcoin, so those in that country choose, run to the dollar or Bitcoin, that's why stablecoins are growing the way they do, there's just such an insatiable demand for dollars overseas.