Its not the users that caused the price to go down,
Yes, it is. That's how a market works.
its definitely the Exchange.
The exchange does not control the exchange rate.
Its impossible that more than half users dumped their bitcoin in the 5 min time frame.
I agree. I don't know where you go that number, but Any report that you read that says "more than half users dumped their bitcoin in the 5 min time frame" is lying to you. That's not how a market works.