Also don't forget the whales are probably manipulating the markets so they can scoop up dirt cheap prices before mooning stuff. Give it times guys, we are just in the last part of the down cycle I feel like.
They are taking advantage of this period of uncertainty. There aren't many new buyers and those guys have thousands of BTC to play with.
Think of it like throwing meat to the wolves. Most of the wolves got tired and went to get some sleep and some guys came in and unloaded a full truck of meat onto a nearby field. For now it looks overwhelming, but give it time and all of this meat gets eaten.
The bottom is there, they are only buying time to get as much profit as possible before they go in long for another rally.