Don't give JP Morgan too much credit on influencing anything involving the crypto industry as compared to others they can't make as much noise as what Elon Musk is doing. Even if you have asked this last 1 or 2 years ago I wouldn't say they are "manipulating" anything as they have negative comments about Bitcoin during its bear market. The ones who are manipulating the market right now are either the whales or maybe Elon Musk with his tweets but JP Morgan they were never in the limelight of any kind of influence in the market.