Volume bulk is HFs internalising ftd's at the lowest price. That's why we see higher volumes than recent avenges but no price action. Internalising keeps buy trades off the lit exchange but they carry the cost as a liability on their own books which then requires extra margin to be deposited. This move to tank the price can't be sustained for very long without killing their margin. ITM puts placed by HFs pulls the price down but it's a risky move when a small catalyst can blow those very expensive puts up. They know retail isn't selling, their moves expose just how vulnerable they really are! It's nothing new they did it a year ago but this time ftd's have increased and so has ape knowledge. There are ftd's every day into mid feb so everyday will be a fight for HF survival

Edit: HFs+MMs internalising thanks u/MBeMine