Bears are
So do the whales have the ability to dump us into a bear market on their own?
They would be able to buy cheap Bitcoin but if we're in a bear market they can't sell for huge profits (and then rinse and repeat) until the next bull run. Or is Bitcoin accumulation the be all end all for them?
1) Its more of a combination. Whales (Institutional investors), market-makers (those who keep the volatility going) and media (Those that create the bad news) have a strong ability to manipulate the market. But its the panic reaction to it that actually fullfills the plan.
2) Institutional investors, those with big accounts actually adopt different strategies, it really depends. You cant say any whale is the same. There are some who keep on buy the dips and never sell. And others who manipulate markets by breaking support lines and stimulating larger sell offs. Accumulation happens in most cases at significant support zones.