Is there anything wrong with keeping my money in an HSYA until the market cools down?

I use Wealthfront and take advantage of their 5% yield. I sold a lot of my positions as the market rallied over the past month and moved it into the savings account. I know time in the market > timing the market, but I wanted to take profits in case of a rug pull. I genuinely think this market is teetering on a balance board.

70% of my money is now sitting in that account while the remaining 30% is invested in two stocks.

Is there anything fundamentally wrong with this approach?