Hopefully, the sell-off in New York at 10 o'clock this week will end.

I think this part is due to the October crash, when some institutions had to sell ( after margin calls. I believe this has basically ended ).
Now it's year-end tax-loss harvesting: if someone bought BTC/IBIT, most people are in a loss position. Investors will sell losing assets to realize these losses, offsetting capital gains or taxable income.
And in the new year, institutions will rebalance and deploy new capital because of budget resets and portfolio adjustments. Stay tuned for January 2.