I am one person who does not believe that the market can be controlled by someone or a group. in the crypto market, there are only 2 types of investors and traders, namely smart and stupid. Beginner investors or fools when they get a loss will say that the market is controlled by a number of people, even though the loss they get is the result of their carelessness in making a decision. It is their decision that can make investors and smart traders benefit.
People love conspiracy theories, they prefer to think there is a mafia of whales out there trying to get them than to accept the single fact that they are not very good traders and investors and they should stop until they improve or never get in the market again if they can not do it, and that is why they never improve since they spend their time blaming others instead of their decisions and they never try to find what went wrong with their investment strategy.