Just to illustrate how manipulative the market is right now.
Top 0.01% of all BTC addresses(1614) own 39.23% of all circulating BTC.
Top 0.54% of all BTC addresses(149001) own 87.14% of all circulating BTC.
Bottom 99.46% of all BTC addresses(27676949) only own 12.86% of all circulating BTC.
Not to mention that many whales probably have multiple addresses. The whole market is basically in the hands of a few people who can drive the price up or down as they please.