if you watch the biggest wallets, those over 1000 coins, who hold almost 50% of all BTC, you know how many they sold in the move from $500 to $300? guess?
28000 coins out of around 7 million. And I bet when the dust settles they will have even more coins than before this sell off.
Are you sure this is right?
Are you comparing those with 1000+coins at time A (when price was 500) with those with 1000+ coins at time B (when price was 300)?
But these may not be the same group of individuals.
Someone who has 1050 coins at time A, then 950 coins at time B, would not be included in the latter. The reverse is also true.
So there could be a lot more selling by big players than you think.