Why do I feel that no matter the adoption level and number of long term investors the bear cycles will always drop BTC by 80% and more? How does this even work? When will finally bear cycles become more balanced?

I have this weird feeling that even if USA government buys a small percentage of BTC as reserve currency and also if many investment funds/banks/institutions and whatever else exists buy millions of Bitcoin, I still have a feeling that in the next bear cycle somehow BTC will still manage to drop massively ! Even if these investors are for the long term and don’t plan to sell each bear cycle. So why does BTC magically drop?

How does this even work on a technical level? The Wyckoff whales can no longer manipulate the price so easily, right? USA government won’t sell during bear market for sure. So who then?

So, who are the main drivers and massive sellers of the bear cycle?