now a days whales are slowly losing their power against high volumes of most exchanges.
That must be a good point. If you ask me, I must say that manipulations are these days not happening frequently, probably due to your reason.
It seems sometimes that bitcoin market is trading strongly without any manipulation but at times some high volatility makes again to think like "whales are back into action". I will not agree that manipulations are still happening may be not in more numbers but there are whales and they may move markets according to their preferences.
If you people may fail to observe manipulation when more whales pump bitcoin market up but when they do pump and dump alternatively then you will start noticing. People do agree with manipulation when it happens on rising side.