That is NOT the conclusion that I would reach from that data.

My understanding is that price gets pushed in whatever direction the whales perceives is least resistance, and frequently, actual news events are not going to make much of a difference, except perhaps create incentive for the opposite.  So, people come to believe the situation is bearish and they place a lot of shorts, then one or more whales come in and force those shorts to close by pushing the price in the opposite direction.  That is not fake news, but it is a combination of market momentum and some strategic placement of capital by whales in order that they can push the market in their opportunistic preferred direction.