Usually bitcoin traders react to news well in advance which might have happened this time also; like for expectation of upcoming dump from gtmox refund, traders might have booked profits/exited their positions with the plan of buying back to cheaper price levels and made the recent correction.
I remember by the times of 2018/2019, some whales in reference like gtmox trustee, was continuously dumping big amount of bitcoins and made bitcoin prices to get back to below $10k levels even after bitcoin showed recovery up to $14k levels from the bottom of $3k levels.
But, this time I am sure they could not make similar kind of negative impact into bitcoin market by releasing BTCs; the current recovery from the $55k levels must be an enough proof for that.