I'm not convinced that it's only whales that can do these things. Smaller traders are perfectly capable to do the exact same thing and profit just as much.
oh i totally agree. i'm a retail trader myself and i wouldn't bother if i were losing money. i just think retail traders are inherently easier to squeeze than eg trading firms because institutions can survive long term drawdowns as they pursue other markets with unallocated capital. that's how successful funds survive. regular folks are much more likely to get caught in the typical market psychology which ends with buying the top and selling the bottom.