It's not manipulation, just a logical movement. It failed to break out, so what usually happens is that the price goes down. If you don't sell, then someone else will, and that usually triggers a bit of a panic reaction.

We're very close to the point where in 2015 the price found its all time bottom around $152 so it will be interesting to see if we see something similar happen this time. Considering how similar the selloffs were, it wouldn't even surprise me, especially with how tax sales could also be a factor to take into consideration with how we have more professional entities in the space than ever before.