Its pretty easy to be whale in crypto, whales could manipulate price as they want. Also, a lot of fomo and fud here, that's affect the price too
Sometimes I doubt with whales in crypto, sometimes I am thinking that these whales are just a myth. It's kinda difficult.
FUD sometimes is also one of the reason why BTC fluctuate quickly and for sure if you have lot of money you can make BTC price actions fluctuate.
But what I really know, it is based on the buyers and sellers, the bids or asking prices.