Bitcoin is decentralized and cannot be controlled by any individual or bodies. But the actions of the holders of the coins is what is seen as the market reaction which now moves the market in the desired direction depending on the strength of the actions of the individuals. This is called market sentiments and it is responsible for price movement in the market.
It has always been and always will be. Although bitcoin is a decentralized authority, the strong half of humanity has always been in the minority and ruled the weaker half. The same thing we see here as the larger players in the market create a direction for the price of bitcoin and all the rest have to go for them.