The fluctuations in the cryptocurrency market are often characterized by 'slow rises and rapid falls.' This situation typically occurs during market rebounds or upward trends. Simply put, this is an old tactic of bull market shakeouts.
When a cryptocurrency rises for several days, a sudden large drop can cause the gains of those days to vanish instantly. As a result, new investors and some who cannot bear the loss will get scared and sell their coins. This is the effect that major funds hope to achieve: letting retail investors' chips flow out.
Once the market drops to a certain extent and stabilizes, the coin price will slowly rise again. When it reaches a certain height, more follow-up investors will join, and major funds will take action again, using sudden large drops to clean out a portion of the chips. Such large drops are usually quick, occurring over a short period, with potential declines of 5%-10% within days, and sometimes even deeper, dropping 15%-20%. However, there is no need to worry too much; prices generally stabilize near important support levels.