Deep studies always find out that the Bitcoin market is manipulated to a certain extent. When there is a dump and the price is falling, there is manipulation. But if the price is rising, the
deep studies are still claiming the same thing. What is not manipulated, after all? Bitcoin's price value is determined by the market demand, primarily by the traders. The whales have the edge but not the total control.
These
deep studies are finding the same thing in almost everything. The crypto market is manipulated, albeit much less, just like the stock market and the forex market, and oil, arms, car, airplane, wine, fish, pork, vegetables, and even the elections.