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.
Yeah, they can't simply manipulate the market this time as people had learned and know-how these whales take the market to get some favor. If ever this is a bear trap, then let be coz it is not a problem, I'm not selling yet as I just continue to hold until December.
I don't look back to what happened in those days when gtmox hits the market badly. It was just the past, the market sentiment is different from now and also the minds of the investors that is why I have the confidence that we move farther than thinking about of huge decline.