I believe the crypto market, is heavily manipulated, I'm of the opinion that only a few very powerful people or government, now HODL the most Bitcoin,
Could be true. But the problem is that we don't know this whales, and remember this is a free market and they can do whatever they want without any consequences.
And are responsible for where the price goes and as a result the entire market is under choas. Is this even possible? I think it is, what's your own opinion?
However, they're just part of the equation. Maybe there are people who wanted to sell because they needed funds for whatever reasons so they obviously wanted to sell. Or investors who became impatience of the Bakkt offering, or the Van Eck/Solid X ETF that why they sold to at least break even in this bear market.