Whales are the largest mammals in the world and also the most powerful investors in this crypto market and have been around long before bitcoin or crypto existed, and whales play on people's emotions and use the opposite of what most people do and think.
when people are scared, they buy because most people are selling. And conversely when there is greed they sell because most people buy and a lot of people and small investors hate this but this is a part of this industry that is not going away.
Bitcoin price is determined by many factors, and whales alone still cannot control Bitcoin. When whales in the market move funds, it will cause panic to some investors. Whales will use people's emotions to change the direction of the market, and the market will fluctuate.
It is true that the bitcoin price is determined by many factors but I still believe that whales are still manipulating the bitcoin price. For me, the crypto market is so new and so small that manipulation is inevitable. With a market cap of less than $1 trillion and the absence of any regulation, price manipulation with sharks is incredibly easy. Of course, here there is not only one shark but there will be many and in the market, the story of big fish eating small fish always happens.