those are common thing, normally happened in crypto market.but nowadays it seems too much as you said.whales are responsible behind this thing & normal traders have nothing to do with this matter. If you are a short trader, you might be make loss cause indicators & strategies aren't going to work properly during this situation.possibly long trade can reduce loss.and If you are a holder, then nothing is worry about
It not good to believe every trend the market shows was played by the whales when the arbitrage traders were to be blame sometime and I think they are also behind this current market trend either after the Paypal statement.