The person dumping probably bought each BTC at < $1 - or more likely mind it for just their electricity costs on their home PC.
So whether they're selling it for $60 or $40K I guess makes little difference.
For all the attempts at trying to predict the price and cycles, at the end of the day, a few people hold MASSIVE amounts of BTC and can, on a whim, cash out the lot and dump the price by a huge amount.
Taking out a loan to get in deeper is bonkers.
I've already got my house, land, a decent chunk of fiat in the bank, that's when you get into crypto!
I'm OK in other words!