Short answer YES. I think what been happening is the sell limit volume increased set price range $9k+ to $10k+, the percentile I’m guessing are, P10 $10K, P25 $9800, P50 $9500, P75 $9300 P95 $9200 at the moment. Basically whenever the price of Bitcoin up a little bit, there’s a bigger sell volume with sell limit set thus causing the price to drop pretty quick.
Day trader and semi-day trader had been repeating the process of buy low and sell high at $9k to $10k, when will they stop? if anyone can answer this question then we may hit $10k+, however unfortunately these day trader might be repeating the same process over and over again preventing the price of Bitcoin to go up higher. Sadly these buyer and seller are some may call them whales, where they have big capital or cash on hand to buy and sell in larger volume than smaller investors.
This is just my personal opinion.