Whales are the largest mammals in the world and also the most powerful investors in this crypto market and have been around long before bitcoin or crypto existed, and whales play on people's emotions and use the opposite of what most people do and think.
when people are scared, they buy because most people are selling. And conversely when there is greed they sell because most people buy and a lot of people and small investors hate this but this is a part of this industry that is not going away.
Whales are just doing their side what is good for them and so are these sellers. Perhaps, we can never expect that everyone is meant to hold but some will just sell and whales are taking the opportunity to buy their coins. We know that manipulation exists in the market but actually, not only whales are benefiting from this but also small investors and holders got shares from it. I'd never think they are greedy, they only just did what is good for them.