A whale investor can make the market take an unusual shape, but not for long. When a person buys or sells billions of dollars of bitcoins at once, it is normal for the market to behave differently for a while. But he alone cannot control the entire market as he wishes. But yes I believe that some part of the market can be controlled by whale investors but the whole market is not dependent on them.
Certainly true and that it is possible for whale to manipulate the market but not completely. The fact is that they can also lose lot of money in this very volatile market, so they can only afford it to limited extent. Even anyone but the whale can move the market, but at certain limits and at certain times.
Apart from that, the market can also move with other developments and issues in the industry, such as FUD and other negative news. So not only can whales change market trend, but many other things can also play a role.