This is because the Bitcoin and Altcoin holders are easy to believed to FUD making them to panic of selling their Cryptos. Actually, the big whales will trigger the selling together with the FUD news and making the people to panic that if the price successfully down then the big whales will buy it again. I just hope that soon, many will learn about this strategy of market manipulation in which ETF is our only hope.
You are right, this is because of the weak hands that always believes fud without knowing and searching that this is only a strategy to manipulate cryto price.