They often try to get people margin called on their longs too, to further push it down. A bunch of liquidations occurred about 10 minutes ago. May be time to go up again.
There is no bitcoin market. Every single move from $200 to $800 (besides some halving element) was entirely a short squeeze. The market didn't move an inch unless there was someone to squeeze. Only recently has that paradigm changed somewhat, but it will probably fall back into that old state again where the price only goes in a direction in which a manipulator can fuck over someone.