Momentum traders or swing traders who are considered “weak” holders and who will not hesitate to sell at the slightest hint of a turnaround or profit-taking. With the market makers “stomping on the ask” and “walking it down” by continually lowering their selling price, they also drive the bid down. It may even fall below what people were eagerly buying them at. Before too long, the weak hands join in the selling and increasing volumes provoke even more “panic” selling.