I was thinking how about we all make up a community for crypto and maybe try such thing ? We all say that whales are manipulating the markets but we are not doing anything to tackle them.
Only strict monitoring and regulations and high capitalization/liquidity can do this. Do we have the power? No.
Because 99% of the people saying that the "whales are manipulating the markets" has no basis at all and are just saying that so they have someone to blame for their bad trades.
Also, do we even have proof of a hedge fund shorting bitcoin with huge amounts of money?
The proof you are seeking is one big reason why there might be law indeed but there mightn't be justice. And it's highly unfortunate that people tend to defend injustice due to ignorance and naivety.
My years of trading show clearly that the market is manipulatable, and with evidence, some makers had been sanctioned in the past. This takes me to the crypto market, why not? In this highly unregulated market, if more regulated ones could still be caught in such an act, you don't need a soothsayer before knowing that it happens.
To manipulate Bitcoin can't be attractive much with the current capitalization, but I do wonder how some shitcoins indeed behave, and I don't need proof that they are being manipulated due to their low liquidity.