It;s a popular belief that whales are manipulating the market. Yes, they have the power to do so because they can drive the volume due to their immense holding value. They can create demand and create supply in the market due to their deep pocket. However, are they doing so?
I encourage you to read a blog post by Chain Analysis which will clear your mind and some misconceptions about the whales for better,
https://blog.chainalysis.com/reports/bitcoin-whales-octIt says even if the whales have the power to manipulate the market, they aren't doing so! Instead they are accumulating little by little in this opportunity market price!