The big players don't dare to dump the market because they can't find an opposing order.

They can't close their positions.
If the price hits a new high and they still can't find an opposing order, the big players will be in trouble.
Forcibly pushing down the selling pressure would mean risking everything, even their underwear might end up on Xianyu (secondhand marketplace).
They can only sideways trade, waiting for whales to enter the market.