They only thing they can theoretically control is the fiat price, but that will, eventually, blow up in their faces

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What? These Companies now hold a huge amount of Bitcoin through their ETF offerings.

Market makers (of which these companies are now the largest) provide liquidity to the market, which reduces volatility.

So yes they can heavily influence the price, because they are the heaviest fish in the market, we are already seeing the price trading sideways for longer than it ever has in the previous cycles. And as the more inflows that pour into their ETFs, the more bitcoins price will trade sideways as time goes on.