Bounce back of market with cryptocurrency is quite common. In recent days what we experience is gradual growth in the market. A bounce back is possible with the whales move, and these days cryptocurrency users are used to it understanding the market. Upon the same there is no big fluctuation with the market.
Whales can totally manipulate the price of the market but thats not healthy and we should go up because of many good news and many adoption, not just a hype.
Its normal to experience correction and now the trend is going up again and we are challenging the resistance level so if we are able to stay above the price of $12k, then another target will be reach. If youre already used on this kind of trend, you can make a lot of money riding the volatility.
Well, if you want whales to not be able to manipulate the market, you need to make sure that liquidity is super high and in billions, right now liquidity is high so that is why they are not manipulating too much but sometimes market gets bored of not moving so they get out and only the orders stay and active trader count drops a lot, when that happens whales come in and they start to trade bitcoin however they want and make it go up or go down depending on how they believe they could make the most money.
Just 2 months ago or so there was a situation where long futures were overbought compared to short but there was not that many buy orders so whales just sold a lot of coins and dropped the price from 11k to 9k again and that allowed them to pick up tons of profit from the futures market.