well, i been thinking for a while about who actually controls the bitcoin price.
among the following below, which one do you think has the major influence regarding the bitcoin price?
i. bitcoin whales
ii. the banks
iii. wall street
iv. hedge funds
v. crypto exchanges
vi. crypto influencers
if there is a sharp decline in the share price, the news "whale sells xxx bitcoin" comes shortly afterwards, or in the event of a sharp rise you often hear "companies or institutional investors have bought xxx bitcoin". the two groups will have a certain power, but I strongly suspect that the exchanges / stock markets have greater power. similar to eibe bank in real life. If you look at the btc wallets, you can see the size of stocks on many exchanges.