Whales maybe or they manipulate price so that panic sell can be done and many will sell in this situation. They use this to collect many more and wait for some time few months maybe and then they increase price. This pattern is seen so many times. One exchange volume dont necessary means that there is some movement but can be a starting point.
You are right. Now we need to take a break. People don't realize the fact that they reduce the price of bitcoin when in a panic sell their coins. I'm willing to wait a year or more but selling at this price of the bitcoin, I will not. If you do so all the price will again rise. The main reason for the fall in prices of cryptocurrencies are our actions.