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.
Although I agree or at least resonate with most of your paranoid theories (

), this one never makes that much sense to me. Why would the "whales" spend the money to do this. Unless, of course, the whales are actually the exchanges themselves?
I am not questioning the validity of your theory. I am saying I honestly do not understand it. Can you elucidate?