The crypto market is still not matured and is going through a phase of understanding, experimentations, adoption. There is still a large part of the world which does not know about Bitcoins.

The crypto market was earlier more accessed by crypto lovers. However, over a period of time, large groups who play in the stocks and forex market are moving into the crypto market. The manipulations can be done (just my understanding) with the crypto market is just hovering around $400bn, which is a minuscule figure comparing to other financial channels of investments (like stocks, forex, mutual funds...).

There are some or other the fake news creating FUD, over hype of the situations which always keeps bitcoin prices fluctuating. Governments/Banks/Large Groups are making their moves to either ban, regulate or have a share of profits. People/Investors are definitely moved by the news.

Bitcoin has a huge number of followers/supporters across the world. However, trading is a different aspect vs technology and is a different ball game, which causes fluctuations.