Liquidity in the US market is very high. Having so much cash lying around when inflation is expected to start rising and fears are for inflation to reach 5% means the prices of assets will keep rising. This recent rally in the stock markets is fueled by this liquidity and Bitcoin is becoming one of the top assets to hold as there is more companies exploring these avenues.
We have today Microstrategy, Square and Massmutual holding Bitcoin in their treasuries. There will be more as probably banks are buying Bitcoin and some cryptocurrencies for their crypto reserves.
The message is clear, when selling Bitcoin you sell to some funds, banks and corporations that are not trading or waiting to dump. These are the strong hands as they will probably hold these assets for many years.