I know whales are not fools...but selling a huge part of what they hold is a way to manupulate the market. Causing more downfall.
That's not what they are doing by the way. You still seem to be confused again.
Just look at the dominance charts and you'll know that the involvement has lost by many folds when compared to the bullish times.
Its more of a psychological approach of various FOMO investors when Bitcoin reached $20k. That's what fueled the bearish trend.