Sometimes it's true but most of the time it's a big lie, I have seen so many coins dumped even if bounty hunter's shares are not yet released, it's the huge pre sale bonus is the culprit of this, they gave early birds such a huge amount so if they dump it they still have profit.
when the market or buyer interest in the market is still not too much, of course what happens is a dump. Unfortunately what is known and widely blamed is the Bounty Hunter. whereas in some cases as you say distribution for the most recent passive bounty. some also distribute gradually. how does the bounty hunter dump if that way? even though the allegations for bounties are relatively small compared to the bonus given to investors at presale.