I think who control price the crypto market is big investors, they can control in low price and then to the high price. Everything of cryptocurrency depends on them, that prices go up and down because of the consequences of our own selling btc at a low price.
You might right because in any market there is a group of individuals who owns high market share with high power and I have heard that is often happen in the company share market even in my country which is a disadvantage for the rest of investors because there analyzing of the market will be in vain when rich people stars t control the market as they want and in the crypto market same thing can be happening