It's kind of funny to see how the mainstream and the general market interpret the BTC "crash" this time around. It didn't even took a week and as far as i know, BTC is recovering well and is on the verge of bouncing up again.
I do no know who's panic selling but a Hongkong Investment firm actually decided to purchase and expand more of their BTC reserves (tho its not the eye watering amount, its still Bitcoin) [Source: Read here](https://btcpeers.com/hong-kong-investment-firm-increases-bitcoin-holdings-after-initial-purchase-doubled-stock-value/).
The "crash" this time can't even be compared to the crash last time so I think this is just people panicking and the mainstream media propagating it.