I think this is because the regular people get out from trading and many people are either in fiat or in bitcoin but not trading anymore trying to make more money. A year ago everyone was a master about which coin was to get and even at the most unusual places you have seen talks about buying some obscure coin and that was the way to riches, nowadays no one really does that at all.

It means the whales who try to control the market can't anymore because in order to control the market it has to worth what you are doing and when they spent millions of dollars into bitcoin than there was other people who spent tens of millions of dollars and their speculation was not seen and balanced.

Nowadays, if they try to do that than they would have to really move the market themselves and when they want to get out they can't because there are not enough money to go around.