Whales have the power and resources to manipulate the cryptocurrency market. The BTC whales are also very intelligent people that knows the value of their holdings so they do not perform their large Crypto trades on known public exchanges so as to avoid the slippages in price delivery and forcely crashing the value if bitcoin. They also have the resources to cause momentary pumps in price and that's why a big dump or selloff often happens after a consistent upward move
One thing you also need to know is that manipulating the price of BTC is not easy and it can't even be done alone, you can see Elon Musk as the number one richest person in the world who can only manipulate Dogecoin not Bitcoin, do you think Elon Musk is very hate Bitcoin and just love Dogecoin ?
Is not being done by a single person but the influenced of whales creates an impact on another whale right?
I mean, if those people who have good capital merge with shaking the market; they are moving it well. Not impossible that they are using same patterns and by working together they'll successfully do the damage.
The huge operation of the whale may affect the market, and the operation of the huge whale is also transparent in Bitcoin. We can check their actions at any time and analyze market trends.
Indeed. they have that money to move even in lighter but impacting movement,
Whale knows and understands the sentiment, for those weak and panic holders they can easily penetrate and succeed with their plans.