The resistance is a combo of simple bagholding interest (every usd that inflates a shitcoin is a usd that's not swelling their own bags) combined with a saltiness in response to the avalanche of grift that entered via the altcoin / shitcoin space and that soured normies on "crypto", including bitcoin.

Of course, to hear them speak of it, it's 100% the latter and 0% the former.