I think you can just mathematically calculate who exactly influences more. But I think that both of these groups influence the market in their own way. The first part of those who hold bitcoin and do not use it in any way - their "silence" in the market gives some signals to active players (the second group). Those who actively trade, perhaps only because of their own activity, can "more" influence the market by creating supply and demand there, thereby forming the price and trading volume. I'm still more inclined to believe that those who do something have more influence.