At small time intervals, large holders can influence prices by selling a large number of coins on exchanges or vice versa, starting to buy Bitcoin en masse. But these actions cause only temporary price fluctuations. Somehow the manipulators of the market cannot change the law of the market itself, so if you count on long-term investments, then you should not worry about it. In addition, the really large holders themselves are not profitable by the long-term weakening of the Bitcoin course.
What do you think?
I once googled the wallets that contain the biggest amount of bitcoin. A significant part of them are major exchanges' cold wallets, so they don't really count. I also tried checking the transactions from the other ones and there were usually only incoming transactions. I think that the big holders don't do panic selling. What they do is actually help us out by buying even more coins when the prices drop. What makes the prices 'manipulated' is us, the typical bitcoin users and crypto traders. When we see some fud, some of us start to write posts like 'this is the end', 'bitcoin will die', helping to spread it forward. When some are starting to sell, they trigger a chain reaction of people selling even more, being afraid they'll lose their money if they don't. If we want a stable market, we should not be those sellers. We shouldn't fall for 'bad news' and the price will remain stable.