This is just the recent inflow of people, who have no context.   Its the holdings that very shortterm buyers unwind that leads to the action they fear.  As well as that population of people there are also long term users of bitcoin who are aware that 2017 was not a normal market layout for price accumulation.   In the end the two extremes in sentiment will balance out to even this period, it could be 9 months is not that long at all but I think the speed of change will slow anyhow