Most bitcoin prices are tied to an average or a collection of what the top exchanges publish as the current bitcoin price. But who's actually moving their prices? From my understanding, retail users don't have the power to move prices in the short term. Whales supposedly are the ones who can make the price suddenly jump or drop...but they trade on OTC desks right? not on retail exchanges....so how are these Whale movements being reflected on retail exchanges to determine what the current bitcoin price is? Or are there actually some whales who use the exchanges to trade on?
Everyone who have Bitcoin could participate on price movement.
Even small time crypto trader could be part of it, It isn't just the whales every one who is trading are contributing to the price movement.
The small holders could also move the market FOMO and FUD could make the people coordinate.