What if these guys do this to intentionally drop the price in order to buy low and sell high? We tend to look this guys only from one perspective but the truth is that, to them it is all about a game of profits. They don't attach emotions and are never loyal to anything. It might seem that they were proven wrong time and time again but they might actually be balancing their books in the whole thing.
It's been like for several years that this is no longer a speculation but really happening. That's why if there were some bad news for the past few days, there were for sure these big players that have bought already on the dip price.
If you pay close attention, you will noticed that Elon Musk seems to have deployed that method to cash out. Don't be surprise if he comes back again and accumulate Bitcoin citing one uncoherent reason for coming back... but then, he would have bought very low to sell high fee years from now. This guys are playing money game...
I won't be surprised if he comes back and announces that he bought back and not just with a couple of millions but with another hundred millions to excite the market again.
That will drive the demand again even for just simple words of encouragement that he tells to the world for buying Bitcoin. But, we're not reliant on that as individual and long term investors.