To me it looks like #Bitcoin has been successfully hijacked by large institutions. They're pouring in billions to make money and it seems they've also perfected the art of manipulating the market. Who's to say they can't bring it down upon orders of the "deep state"?
Discussion
If you think they can bring it down by sheer volume of the BTC they own then you may want to study more bitcoin.
I went and studied and got a better perspective on how it's not price action, but creating a new longest chain. Thank you :)
The most likely attack vector is not price manipulation but mining. If more/most mining power is in the hands of public companies, the more likely it is that governments will be able to decide which transactions (kyc related) can be included in each block.
They will be able to enforce this by building the longest chain and exclude transactions from non kyc adresses on blocks found by public companies and force them to build on top of each others blocks creating the longest chain.