Mostly people are holding their bitcoins for a price increase, also just like me, i think it is easier way to get profit, also halving is coming, halving is useful way most of the that people who has hold their bitcoins, and waiting for increasing price, halving has a main character in increasing price.
You guess.
Personally I have met so many people, saying "i have sold em all at $100 (or $13; $25; $200,)".
There is always enough naysayers and pesimists...