Not all cryptocurrency price movements in the market always have an explanation. Sometimes the price movements that occur can be caused by the influence of whales who are manipulating coin prices in the market. But it's not always like that because usually whales will make movements depending on good news or bad news, there are several large media that can influence prices on exchanges.
The whale you are referring to is a person who has a lot of capital to move the market and this is something that everyone can explain if they know it. Because there is no price movement in the market without a cause, so things that can influence the market and many people buying a coin are part of the cause. And whales are also people who seek different profits in the market so this doesn't need to be addressed too complicatedly because whales have more ability to influence market conditions.
There are many reasons that cause market movements to go down or up. It could be because of news that makes prices depressed or, as you said, because of manipulation by whales. Anything can happen and that's normal in a movement like this. That's where the art of investing in crypto lies.
But what is most common is that, due to active trading, demand and supply differ, resulting in direct changes.
I also look more at active trading and at different supply and demand in the market as causes of price decreases and increases. Because it is much more logical to look at than speculation about whales influencing the market, even though there are whales who always make the market change in a matter of days. But demand and supply are the real thing that many people can see in market conditions every year so it has become a very common cause now.