Many investors are not patient and because many of them are new to crypto, they are quick to sell anytime they see the market crash but what they don't know is that anything that goes up will comes down(market correction) and what goes down will go up by virtual forces of demand and supply, that's how the Bitcoin market work but not everyone understands this simple concept of the market.
Another point is that the Bitcoin Market growth is not linear, it's will continue a up and down movement until it doesn't come down to where people bought again. It will continue like that until it reach a high value where you will say that you have had enough profits but this can only be achieved with patience.
Well, this is a feature, not a problem in financial markets.
We cannot expect that everyone will make the right and profitable decisions because money is limited and does not come from the wishes of investors. A large portion of investors will lose money and generate large profits for the remaining few. That's how this market has operated for hundreds of years, the crypto market is not exception.
It is understandable that there is a large amount of BTC in profit when we have reached a new ATH, as of now. If the majority of BTC is collected on CEX then we will see this number continue to be extremely high, it also does not suggest a reversal in the BTC price chart, although BTC is currently facing resistance at $69 K and BTC price has dropped to $64K.