that some group of people can actually determine the price of bitcoin by altering the demand and supply of the coin?
The price of Bitcoin can only be manipulated but can not be determined.
If you must have a determinant rate about the Price of Bitcoin, it would only be within a range of the price which is also why we also speculates the market price based on individual analysis and not being specific to determine the price.
The point about the whalers being haven influence over the price of Bitcoin is fostered on their expectations such as investment plans (expected price range before selling) while their purchase entries is their own investment strategies parading the effective movements of the volatile market.
So just know that trying to manipulate the price does not mean controlling the price because no entity is entitled to that just as being pointed that the market price is being determined by the demands and supplies and of which, the Bitcoin block is a global and a decentralized chain.