Actually I thought it were newbies selling their coins seeing BTC over $1,200 and not believing it will stay that high or even higher in the future. But now I think maybe you are right, the whales dump BTC to lower the price to have the opportunity to buy more BTC at low price. If that's the case the price won't stay long below $1,000. And when the whales will start buying their BTC back the price might rise as never before.