Usually, before the FOMO cycle #crypto, the manipulators will try to push the price down below the old peak that has been accumulated for a long time.

That phase is what truly triggers panic, and a selling frenzy will occur. Of course, those still holding during that period won't be many, so the price is usually pushed below the peak but not by much.
For example, a #BTC chart in the image below. You can find other similar charts.
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