Are the strong hands holding while the weak ones are selling at a loss? Is this the actual scenario?
It's usually most of speculations according to analysts especially during when there's visible or at any up or down trends volatilities that that really have emotional and manipulative influences on investor's or enthusiasts.
Example; as Strategy recently sold off 1,638 from their portfolio which psychologically tends to inspire Fomo on beginners or short term goals of investor's which influences them to sell at panic due to the speculation that price will drop or is already dropping just after the strong institution as Strategy holding one of the largest amount of bitcoin sold theirs.
Speculations, volatility, and analysts are related from the early days of Bitcoin because things have never been easy. People have never been standing alongside Bitcoin; they have always made the opportunity to have their concerns, even if mostly they were never right, but they try their best to have rumors about the existence of Bitcoin, but it's staying and doing impressively while it's never been easy to predict about price in the short and long run because anything is possible.
Recently, big institutes have big buyings. This increases the fear factor because their strategy is always increase instability and make good profits with their huge capitals, just like mentioned about MicroStrategy selling more than 1000. This creates serious panic, and people start to sell their stocks. Even many of those well aware of these tactics make no reaction, but the market feels it, and the price slides. Now it is going to be part of this community. I am not sure whether it's going to be big below.