I can see where it could, or more. The one part that remains a mystery to me (because of my ignorance) is the futures market impact. The little I have read on this lately makes me feel like they are bad for crypto.

I read an article the other day that was discussing how gold futures have kept the price depressed, and they were speculating Bitcoin futures may be manipulated the same way. I don't understand it enough to know, and not sure what the answer would be to disentangle from the futures.