Not only for bulls or big whales, you can short the price too, but currently the market is very manipulated, that is why we see deep dips, and long increases.
When the price goes down, everyone is incentivized to buy some more because it's very hard to short it. You buy some, wait for your profits, then exit and start again.Meaning : The current meta is made for bulls.
Why do you think that it suddenly dropped from $20k to $11k? Because the big whales decided to sell and short the price, so they could buy at a lower price and make profit from that.
This is just the play of the biggest fishes in here, it happens on the stock market too, it happens everywhere in where you can use money, there is nothing new with this.