Bitcoin markets are influenced by demand. It's likely that all price rises have in some way or another been influenced by large players, that urged more traders to chip in by manipulating prices. The more recent rally created a perfect playfield for market manypulators as it's obvious that big players were the ones that crashed the market by cashing out. See Image:


Isn't that one of the greatest sell offs in bitcoin's history? And to think that the build up to it was more of a collective rise, whales made too much money from this rally.