It depends upon where you think the money is going. If you believe people are parking their assets in USDT, then yes, you'd expect there to be upward pressure on the price of tether.

If instead, people are getting out of crypto altogether, they won't be holding USDT, instead they will be getting hold of actual dollars (which, depending upon the coins, might involve selling a random coin for USDT and then trading that for USD). In that case, there would be selling pressure on USDT.