Remember, this whole thing about crypto is largely decentralized, thus, there is no single authoritative body in control of the crypto market. Although there are few centralized platforms among crypto, the market is largely influenced by the efforts and influence of the users of crypto. How well sellers and buyers treat the coins on the market affect the performance of the market.
The recent dip in the market is proof that there are whales that manipulate the market, the recent dip is not the action of a group or the community because there is no bad news that will make the price drops, it's just collaboration of whales manipulating the market for their profit.