The development since late December shows very clearly what is happening.
The whales - and anyone else with half a financial brain - are slowly selling all their bitcoin. As they sell, prices begin to drop sharply. They then hold back on the selling and newbies and "HODL'ers" are foolish enough to "buy the dip". This sends the price back up.
It then repeats with rates dropping again, until the newbies and "HODL'ers" buy the dip once more.
Except on every round the dip gets deeper and deeper.
The game is over, and anyone so stupendously stupid to keep buying from the whales who are unloading are basically just throwing their money away.
Face up to reality, the party is over.
You cannot say exactly the game is over as price fluctuations are normal in any market. If you look at the stock exchanges, if people start to think like that once they see a drastic fall in prices, then the total market will collapse and there will not be any stock trading at all. But over the years the stock trading is still managing its growth and stability and the same thing can be expected in the crypto-market as well.