Anytime the price of Bitcoin skyrockets, there would be massive selling of Bitcoin and this practice(s) have always lead to the price of Bitcoin falling back afterwards. During the approval of spot Bitcoin ETFs, it was observed that the massive selling of Bitcoin when the price got to $48,000 made the price to fall to $38,000, it was after the corrections that the price began to soar higher again till now that it has set a new ATH of about $69,210 and immediately, massive selling and withdrawal of Bitcoin was also noticed.
Wouldn't this continues practice of withdrawing and selling off whenever the price skyrockets going to slow the volatility of Bitcoin to continue skyrocketing? Since the price automatically starts experiencing a dip after every massive withdrawal.
The thing is, bitcoin is money free from governmental or any third party control, if you own bitcoin, you own it and can freely without any restrictions, sell it at anytime and at what ever price you want, this is the type of free market Bitcoin and crypto currencies make or made available to the world, so, there is absolutely no need complaining of who sold, and at what price what price they sold, because we all have equal opportunities here, anybody can take profit anytime they want and it's their right.
What I believe we the strong believers can do is, anytime there is a major sell offs like you pointed out, it's an opportunity for us to buy even more bitcoins at a cheaper rates, because certainly without doubt, after sell-off/corrections, the price of bitcoin will always go higher and higher again, as long as we are in a season as this, the bull run, the only time it's usually an issue is when and if we are in a strong bear season.