As the market is open, we really don't know who are selling, but you have to understand that $50K is a big price even to average Joe so whether they sold it or not, nothing can be done. Again, this is a free market we can' get of whales or big companies hedging their wealth against bitcoin. You just have to look at the long term effect, as it will bring bitcoin to the next level that we haven't seen. So even 6 figure is possible now.
Price is not down neither, it has tested 52k+ for the first time ever in bitcoin history. We are officially over 2.5x higher than the peak we had in 2017, so that means if people held their coins in 2017 peak they would have more than doubled their money, which is really not something you can find anywhere else. So, it would be really silly to say that the price is not going up, do not expect the price to go up without a stop, it is really not something we could go up like crazy, it will have to stop going up at some price but that doesn't mean it will stop and never go up, it will just stop as in give a break and take a breather and will continue to go up some more.
As long as these companies keep going into bitcoin, there is really no end to what it could become, you may think I am crazy but another 10x is not impossible as long as these companies keep going in.