CDEL is a MM who works orders on behalf of large s

CDEL is a MM who works orders on behalf of large shareholders like Oasis or the company itself. They do the bulk of making markets on the OTC. MM's have nearly unlimited supply of shares to use to affect the PPS on any given day to make the market move a penny or two to get their clients order worked at the best possible price. If they want to collect cheaper shares they will put hundreds of thousands of shares for sale knowing retail holders will get scared and sell at a lower price. Once they collect the shares they will lift their sell order and the price recovers.

As Buildit suggested, today's action "feels" more like retail sellers.