It seems that some entity is stubbornly selling despite the lack of bitcoin inflows to the spot exchanges.
A small nit: whales selling into their own walls is not actually selling.
To the unsophisticated accidental tourist to WarFi, such as I am, the only possible counter-strategy is buying into the whales' low sells and erode their stash, sat after sat.
Does that make sense?
TLDR IOW BTFD