I think any holidays big holidays makes the market bleed, Valentine's day, Christmas and New year.
Most of the time when this holidays come the market bleed or drops down might just be a coincidence or maybe investors are just taking out a portion of their investment to celebrate.
That is exactly what I think it goes on with crypto markets, traders are not robots, we are people like anyone of us, so they need to close their positions in order to cover their needs, some of their needs increase during holidays: they need to buy plane tickets, buy gifts and have budget for their loved ones, etc.
There could also be some situations on which traders get some extra money from their bosses or from their family members and decide to buy Bitcoin or other coins with that money, but that is rather an election to the rule of them selling their positions, in my opinion.
Any red day may be just another opportunity to make out positions stronger if we are pointing for a long term cash out anyways.