I dont understand, why would he sell his coins like this? Market dump 1.2k then put up wall to keep it down? Doesn't make any sense
It's the same group of people who just keep dumping. Over and over and over again. Month after month.
Their daily task is making sure Bitcoin goes down. It's their job. If we go up they dump in full force and put up a few walls to scare away the new buyers.
And as you can see from the last 5 uptrends that got killed them their tactic works.