It is not really possible for price to drop more than $3000 that means if someone dumps a large amount of coins, You could only see a drop by $3000. People are will buy back up everything you dump on them. Right now this $11000 is nothing compared to when a few million of small and big investors try to buy some bitcoins.
no the markets did not move that way my friend,
if you're using your logic to meassure it i think you made a mistake because the whales always using the fish to make a wave.
logically,the reason behind this mass pump due to people keep buying it no matter who is he.
but if you understand how it works you should know that the whale take the lead,
what i mean is if we're saying a million fish buying Bitcoin at the same time,Bitcoin price may be hit another ATH at any time.
but why that thing did not happen many times ? because the whales set the wave.
if the whale make a move by selling their holding the price will be dumped so hard and the trend will be change,
for future Bitcoin still has a lot of potential but the majority traders did not really care about that at all.
what they want to know is to make a profit instead of making a space for Bitcoin.
so if some people dump a huge sum of money,the price will be declined and at the same time a million of small or big investor trying to make an exit place to buy it lower than before.
it's all about the time for whales to change the movement,
and we do not know where is it and when.